L A of Busi. Sec. Q80

0. The agency extends to receiving notice on behalf of his principal of whatever is material to be stated in the course of the proceedings. For this rule to operate:
I. the agent must be under a duty to communicate
II. the information must be material
III. it must have been obtained in the course of business for which the agent has been engaged
IV. the agent is not privy to a fraud on the principal

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