Perhaps the most important concept to grasp from the study of agency law in Chapter 1 is that of the duties that parties owe to one another when they are engaged in a business venture together. Regardless of whether the venture is an agency, partnership, or corporation, the duties of loyalty and care thread their way throughout this course.
Do the duties of loyalty and care serve an effective purpose in business relationships?
How far should the concept of fiduciary duty extend? For example, if the standard is that the agent is to always put the interests of the principal ahead of the agent, can this idea be taken too far?
Should the fiduciary duties of loyalty and care always end when the agency relationship ends? Why, or why not?
Your essay should reference at least two of the four cases summarized on pp. 27-29 of your text. Don’t just describe a case or its holding; rather, describe why it supports, or is contrary to, the position you are taking.