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
QUESTION 1 (a) What are the various alternatives that exist to settle a dispute besides going to court (b) What are their respective advantages and disadvantages QUESTIO

Question 1: (a) Who is a director of a company and describe how he may be appointed. (b) What are the duties owed by directors under the Companies Act 2001? Question 2

The UNCLOS 1982 The UNCLOS 1982 does not stop at gauging the limits of the territory of coastal states. Other features of the Convention include the right of transit of landloc

Payment to Promoters:   A promoter has no legal right against the company he promotes. The main reason is that the company did not ask him to promote it, and because the compa

You are a Graduate Legal Officer employed in the Constitutional Policy Unit of the Australian Attorney-General's Department. Until this point, your supervisor, Rodger Dodger, has p

QUESTION 1 (a) What are usually accepted principles of corporate governance. (b) What factors can lead to incrising corruption in the business environment? QUESTION 2

Investigation of Company's Membership: Section (1) empowers the registrar to appoint one or   more competent inspectors to investigate and report on the membership of any comp

How was Negligence the main cause? Negligence was the major cause: A claim for damages can only succeed when there has been damage or loss to the claimant. Illustrations

Termination of Partnership The Articles of Partnership will contain like a rule or be the regulations with regard for the termination of the partnership. Almost in the absence o

Your first big case is a multiple murder. As defense attorney for SyKopath, you have come to the realization that he really did break into a couple's home and torture and kill them