Once the agent assents to the agency, it is his first duty to enter upon the performance of the trust imposed in him. His failure to enter upon the execution of the contract, would render him liable to the principal for non feasance, and he would be liable to the principal for the losses thereby sustained. The agent must not be guilty of negligence in performing the contract, but, on the contrary, is bound to exercise toward the principal, at all times, the utmost good faith. The duty of good faith, carries with it a duty to act in the principal's name, and as his agent, to obey the principal's instructions, and keep within the scope of his authority as agent. The agent must not speculate with funds in his hands, or make any personal profit, by reason of his office, beyond his fixed salary or legitimate commissions. It is further the agent's duty, to disclose to the principal all knowledge coming to him touching the principal's affairs to which the agency is related. The fidelity required of the agent is of the strictest kind, and all the agent's acts and doings must be for the purpose of subserving the principal's interest and not his own.1 Good faith further requires that the agent act with due care, and diligence, commensurate with the duties, and the circumstances, of the agency. It is also a further duty of the agent to render to the principal an account of his acts and doings, and of all moneys, etc., received and all disbursements paid out.2 It is the duty further, of the agent, to keep his principal's property separate from his own.

1 Michoud vs. Girod, 4 Howard (U. S.), 503.