Theories of agency are quite old in nature. Most of its applications have been observed from long ago. It is a fact that whole agency system has based on the principles of contract. So, it is true that there are contractual obligations between principal and its agent. The English law of agency specifically highlights rights and duties of agent and principal, both. According to the general principles of legal jurisprudence, rights and duties are correlated. If laws provide some rights to a person for some specific purpose, that person will possess some duties along with it.