What is the basic remedy for breach of duties owed by an agent to a principal?

The fundamental remedy for a breach of the duties owed by an agent to a principal typically rests in the form of monetary damages. When an agent violates their obligations, such as the duty of loyalty or the duty to act with care, the principal may suffer financial harm. As a result, the primary goal is to place the principal in a position as close as possible to where they would have been had the breach not occurred.

Monetary damages serve to compensate the principal for the losses incurred due to the agent's breach. This remedy effectively addresses the financial repercussions and enables the principal to recover the value of the loss suffered. It can include consequential damages resulting directly from the breach, which relates closely to the agent’s failure to fulfill their responsibilities.

While other options like injunctive relief, specific performance, and rescission can be relevant in certain contractual contexts, they are not the standard or most commonly pursued remedy in agency relations. Injunctive relief typically seeks to prevent ongoing or future harm rather than compensating for past damages. Specific performance requires a party to fulfill their contractual obligations, which may not apply directly to breaches of agent duties. Rescission cancels the contract entirely and may not provide the necessary compensation for the principal's losses resulting from the