can you please rephrase this document

AREN'T This is a relationship whereby one-person [agent]: acts on behalf of another {principal} to conclude a contract between the principal and the third party. With regard to the contract between the principal and the third party, the agent is normally "a connecting link" for concluding that contract and once that contract is concluded, his duties are at end and he fades out of the transaction. An agency may arise by an Appointment, Conduct, Ratification or by Operation of Law Agency is usually constituted by the principal given the agent expressed directions to act for him. Duties and Liabilities of an Agent I'during agency" 1 An agent must be loyal or faithful to the principal. Though he is entitled to receive a commission for his services, he must not make a prot from the position he occupies. If he does this [if he prots in any way} without authority, the principal may recover the prots from him. If an agent accepts a bribe in connection with his work, the principal shall have an action against him. 2. (Obedience and Performancel an agent is under a duty to obey all lawful instructions. The agent is required to preform the services specied for the period and in the way specified. An agent who does not do so is liable to the principal for any harm caused. For example, of an agent is instructed to accept cash payments only; but accepts a check in payment, the agent is liable for any loss caused if the check is dishonoured for non-payment. 3. Once an individual has undertaken to act as an agent, he must continue to act as such, he is not allowed to alter his position and step into the shoes of the other contracting party. 4. Since an agent enjoys a condential position, he may not delegate his duties to another person without his principal's consent. Duties and Liabilities of an Agent "after termination of agency" When the relationship of the agency ends the duties of the relationship continue only to the extent necessary to preform prior obligations. For example, the agent must return to the former principal any property that had been entrusted to the agent for the purpose of the agency. With the exception of such "winding up" duties, the agency relationship is terminated, and the former agent can deal with the principal as freeiy as with a stranger. Duties and Liabilities of the Principal to the Agent The principal must preform the contract, compensate the agent for services, make reimbursement for proper expenditures and under certain circumstances, must indemnify the agent for loss. Termination of Agency An agency may be terminated by the actions of one or both of the parties to the agency agreement OR by operation of law. When the authority of an agent is terminated, the agent loses all right to act forthe principal