Commitment of agent - agency law, Business Law and Ethics

Commitment of Agent - Agency Law

However responsibilities of an agent for the principal are: as;

(a) Care and skill

However to exercise due diligence in such performance of his responsibility and for apply any special skill that he professes for have.

Furthermore "Diligence' primarily means such the agent, whether working for the principal then must exert the same effort like as show the same enthusiasm such he would have exerted or shown where acting in his own affairs. Therefore an agent appointed to sell must endeavour for obtain the highest price possible although an agent appointed to buy must endeavour for buy at the lowest price possible.  Just to an illustration, as read like;  Kepple v. Wheeler.

(b) Account

However to render an account whether required in those cases when the agency entails observance of an account through the agent.

(c) Estoppel or may respect for principals' title

Although not to become principal as against his principal or employer yet in particular, then an agent appointed for buy property must not sell his own property that for the principal and an agent appointed for sell must not buy the property: like;  Armstrong v. Jackson.

(d)Obedience  and one is

(e) Bonafide and one is

(f) Separate accounts and one is

(g) Keep the principal informed also.

Therefore a breach of the duty renders such the contract voidable on the option of the principal.

(h) Never for make any secret profit : whether he does and as;

  1.     The principal may recuperate the amount of the secret profit from him. And one is
  2.     The principal may reject to pay him the agreed commission like e.g. Andrews v. Ramsay & Co.
  3.     Thus the principal may dismiss him without notice whether notice is compulsory to terminate his agency. And one is
  4.     The principal may sue the agent delivery and the third party giving the secret payment to damages suffered. And one is
  5.     Thus the principal may repudiate the contract where or not the secret payment had effect at the agenta also.


(i) Personal performance of non-delegation

When never delegate his authority then unless the delegation is in such ordinary way of business or is authorised through the principal. Hence this rule is expressed in the Latin maxim "delegatus non potest delegare" also.

(j) Confidentiality or privacy

(k) whether never  to disclose any confidential information or document entrusted for him through the principal.

Posted Date: 1/22/2013 5:22:22 AM | Location : United States







Related Discussions:- Commitment of agent - agency law, Assignment Help, Ask Question on Commitment of agent - agency law, Get Answer, Expert's Help, Commitment of agent - agency law Discussions

Write discussion on Commitment of agent - agency law
Your posts are moderated
Related Questions
Impose a duty on directors: A company is, however, free to impose a duty on its directors to attend board meetings within a certain period of time and to prescribe the consequ

Q. Show the Suggested actions to address phoenix activity? There have been a range of options identified by previous works on phoenix activity, such as the Cole Inquiry and Tre

Nature of a Company: There is no precise legal definition of "a company". This is due to historical reasons which are too lengthy to be narrated in this text. Suffice it to sa

Hire-Purchase Law A person who wants to buy goods through does not have the like "money consideration" prescribed through the Sale of Goods Act like their price may enter in a

Protection of Hirer - Sales of Goods In the S.7 of the Act makes certain provisions void whether they are contained in such the hire purchase agreement, like e.g.: 1) Any t

QUESTION 1 Explain the composition and functions of the following institutions- (i) Employment Relations Tribunal (ii) Commission for Conciliation and Mediation QUEST

Agency by Ratification So then Agency by ratification can only arise whether: The agent purported for act to a principal and one is The alleged principal was in exi

Question 1: Explain in full details the various negotiation tactics and the ethical criteria that you, as a negotiator, may use to achieve your projected goals and bring positi

Owning of Property:                       Under Act of a registered company, as a person, has power to own movable and immovable property. It can actually do so if it can affo

Balance sheet: S.148(2) utilize the directors to prepare and lay before the company in simple meeting a balance sheet as at the date to such that the profit and loss account,