3. (a) Describe the fiduciary duties of an agent to his principal with 20% refer

Question

3. (a) Describe the fiduciary duties of an agent to his principal with 20% reference to cases where appropriate Gillian was engaged by Twins Company Ltd ("TCL") as a disclosed agent to sell their handbags in Hong Kong. Gillian has to meet the target of selling 100 handbags each month and was instructed not to sell the handbags below a . minimum selling price. Under the agency contract with TCL, Gillian was given an agreed commission rate for every handbag she sold. (b) In January 2017, in order to meet her monthly target, Gillian sold 40 handbags to Charlene at a 30% discounted price below the authorized minimum selling price. REQUIRED Advise TCL whether (1) it can have a claim against Gillian and (2) the contract is valid between TCL and Charlene 20%

Explanation / Answer

Agent's duties to principal:

TCL has a claim to be indemnified for their losses and also for damaging their reputation in the market.  

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