THE FUDICIARY DUTIES OF AGENT IN COMMERCIAL TRANSACTION: A LEGAL ANALYSIS
Abstract
The use of agents in commercial transactions is an ubiquitous practice that raises important questions about the nature and scope of fiduciary duties. This project undertakes a comprehensive legal analysis of the fiduciary duties of agents in commercial transactions, with a focus on the Nigerian legal framework. Through a critical examination of relevant statues, case law, and academic literature, this project explores content and scope of fiduciary duties owed by agents to their principals. It also examines the implications of breaches of fiduciary duties and the available remedies for principals. The project argues that the fiduciary duties of agents in commercial transactions are critical components of modern commercial law, and that their proper understanding and application are essential for maintaining trust and confidence in commercial relationships. Furthermore, this research identifies emerging issues, such as the impact of technology-enabled transactions( e.g. block chain transactions) on fiduciary duties which warrant further examinations. To address these gaps, this study recommends the conduct of empirical research on the practical application of fiduciary duties in Nigerian commercial transactions, as well as the analysis of the complexities of international transaction, sustainable finance, and alternative dispute resolution mechanism. Ultimately, this project aims to contribute to the development of a more nuanced and sophisticated understanding of the fiduciary duties of agents in commercial transactions, and to provide guidance for principals, agents, and legal practitioners navigating the complexities of commercial agency relationship.
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