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this question, Please write 1000!!! words with expert's knowledge> -This is one!! question, please answer Q with number 1 or 2!!!!!!

Q: In most cases the relationship between the principal and the agent and their specific obligations to each other will be laid down in the contract between them. In the absence of such provision in the contract there are certain terms implied by common law into the relationship.

Discuss, with full reference to case law, the obligations owed by either

  1. The agent to the principal, or
  2. The principal to the agent.

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