Agency law - agency and partnership, Business Law and Ethics

Agency Law - Agency and Partnership

Sources of Agency Law

However the law of agency in the US is based on the common law rules that have been developed through the English courts and the Factory's Act 1989.  Thus the decisions of English courts are the primary reference material to the US courts as well like law teachers in the US, regarding the principles and rules such constitute the law of agency in the US.

Definition of Agency

Although there is no statutory definition of agency still "agency" might be described as the legal relationship which arises whether a person, called agent such is appointed or entitled for represent another, describe like the principal, in a transaction by some other person(s).  Although  Halsbury's Laws of England, 3rd Edition where "an agent primarily means a person that employed for the purpose of placing such the principal in contractual or may other relations regards a third party and it is indispensable to an agency of this quality such third party should be in existence or may contemplated".

However agency has been describe as a legal relationship, can exists between two there persons whether one called the agent is considered in law for represent the other called the principal in that mode as to affect the principals legal that position in relation for their parties.

Therefore in the Canadian case of Timmins (Town) v Brewers' Warehousing Co. Ltd (1962) Schroeder then J.A. stated and inter alia like; "the outstanding feature of agent's employment in a such legal sense is like, he is employed primarily for bring about business relations between the principal and about third persons so then this characteristic is perhaps the more distinctive mark of the agent like contrasted with others not agents that who act in representative capacities" too. Although the agent acts in whether the way of a contract is created between there the principal and third party who is more often than not a buyer may seller.

Posted Date: 1/22/2013 4:54:58 AM | Location : United States

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