What is an agent's duty to account?
What will be an ideal response?
Unless otherwise agreed, an agent owes a duty to maintain an accurate accounting of all transactions undertaken on the principal's behalf. This duty to account includes keeping records of all property and money received and expended during the course of the agency. A principal has a right to demand an accounting from the agent at any time, and the agent owes a legal duty to make the accounting. This duty also requires the agent to maintain a separate account for the principal, and use the principal's property in an authorized manner. Any property, money, or other benefit received by the agent in the course of an agency belongs to the principal. If an agent breaches the agency contract, the principal can sue the agent to recover damages caused by breach.
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