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3. (a) That's right. Another aspect of the duty of good faith is that an agent is not permitted to be involved in any transaction that involves a conflict between the principal's interests and the agent's interests, unless that conflict is disclosed and the principal approves the transaction. B has not disclosed his conflict of interest to either of his principals.

Lintrose Nominees Pty Ltd and Others v King [1995] 1 VR 574.

Also see Consul Development Pty Ltd v DPC Estates Pty Ltd (1975) 132 CLR 373.