If you are loyal, you will disclose all material facts relevant to the agency. If you are loyal, you will use reasonable care. If you are loyal, you will account for all money and property that comes into your possession. If you are loyal, you will not unjustly enrich yourself thru unauthorized use of the agency. If you are loyal, you will not steal your client s bargain.
Loyalty is, by far, the most important element of agency.
The duty of loyalty was abrogated by the legislature in the new law and not replaced in the black law . At first it would seem you could act disloyally. After all, NOT having a duty of loyalty must mean something . This is the question that must be answered to protect the non-agency status of the Single Party broker. I would say, metaphorically, this Single Party duck could interbreed with the agency duck and produce viable offspring.