The duties of the agent towards the principal depend on the express or implied terms of the contract of agency. When an agent agrees to perform services for his principal for reward there is a contract between them. But even if the agent undertakes his duties without reward, he has obligations to his principal. In the circumstances where there is no contract of agency between the agent and his principal, Contracts Act 1950 laid down certain duties of an agent towards his principal. Explain and discuss the duties of an agent under the Contract Act 1950 and support your answer with relevant section of the Contract Act 1950 and decided cases.