Quick Definition: The principal’s duties are the legal and ethical responsibilities that a business owner or employer owes to their agent. These include paying agreed remuneration, providing necessary work facilities, honoring the agency contract terms, and compensating the agent for legitimate expenses incurred during official duties.
Exam Success Tip: WAEC loves scenario-based questions about principal-agent disputes. Always read the question carefully to identify whether it’s testing principal’s duties or agent’s duties. Many students lose marks by discussing the wrong party’s responsibilities!