ABSTRACT
This chapter examines the English law applicable apart from the Agency Regulations, and then considers those parts of the Agency Regulations which apply to performance of the agency agreement. The Principal undertakes and agrees with the Agent during the term of this agreement: To act at all times in its relations with the Agent dutifully and in good faith; to pay the commission calculated in the agreed manner and on the agreed dates. The first common law duty requires the agent to act only within the limit of his actual express and implied authority, and to obey instructions. The duty to use skill, care and diligence when performing the duties is a rare example of an implied obligation of the agent when the relationship is contractual. Fiduciary duties are different from common law ones; they are far more stringent since an agent can be liable even though he was acting in good faith.
