Lynge ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ Sample Clauses

Lynge ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇. ▇▇▇▇▇▇, ▇▇▇▇▇ Bo. Aftaler og Mellemmænd. forth edition, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇, p. 284. 17 ▇▇▇▇▇▇▇, ▇. ▇▇▇▇▇´s, Law of Contract. 28th edition, New York, 2002, p. 499. Like Danish law the performance under English law must be at the right time, at the right place and in the right condition. Out of the ship management agreement we can see that in entering into an agency agreement, the agent normally undertakes distinct sets of obligations to the principal. The first is the performance of the duties imposed on him by the express or implied terms of the agency agreement. The agent must perform with reasonable care and skill the duties allotted to him by the agreement, must observe any lawful and reasonable instructions given by the principal so far as they are consistent with the terms of the agreement and must be strictly within the limits of his actual authority. The law usually treats the agent as a fiduciary and thus requires him to fulfil a further range of duties which equity imposes in fiduciaries. The extent to which these apply and the strength of their application vary according to the nature and circumstances of the agency agreement. The ship management agreements does not specify this clearly, but it will generally include a duty to act towards the principal loyally and in good faith, to keep money and other assets received from or for the principal separate from his own, to keep and be prepared to render accounts of his dealings on behalf of the principal, to subordinate his own interests to those of the principal, to avoid conflicts of interest between the principal and other principals and to refrain from using his position as agent to acquire for himself property, contracts or other benefits which he ought to do so for the principal. On this field English law and Norwegian and Danish law are very similar. Hitherto the duties owed by the principal to the agent have been left to determination by the express or implied terms of the agreement. English law has been reluctant to imply terms other than in relation to the agent’s remuneration and security for payment of it, and the case law has for the most part been concerned with such questions as whether the agent has done what is necessary to entitle him to his commission and whether the principal owes the agent a duty to avoid steps which would prevent the agent from earning his commission18. The agent has also a right to be reimbursed his agreed or reasonable 18 ▇▇▇▇, ▇▇▇. Commercial Law. Second Edition...