Agent misconduct bars remuneration for the mismanaged portion and requires compensation for resulting loss. An agent guilty of misconduct in the business of the agency is not entitled to any remuneration for that part of the business which he has misconducted. He may be paid for properly performed portions but not for the mismanaged part, and must make good any loss caused by his misconduct. Examples: proper recovery and investment merit payment except for the misinvested portion; failure to recover due to misconduct bars remuneration and obliges the agent to compensate the principal.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Agent misconduct bars remuneration for the mismanaged portion and requires compensation for resulting loss.
An agent guilty of misconduct in the business of the agency is not entitled to any remuneration for that part of the business which he has misconducted. He may be paid for properly performed portions but not for the mismanaged part, and must make good any loss caused by his misconduct. Examples: proper recovery and investment merit payment except for the misinvested portion; failure to recover due to misconduct bars remuneration and obliges the agent to compensate the principal.
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