Disclosed principal, Business Law and Ethics

Disclosed Principal - Relations between Agent and Third Party

Whether the agent acted to a disclosed principal through informing the third party such he was an agent acting to a principal like whether named or unnamed the universal rule is such he drops out of the transaction as soon like his offer has been accepted or conversely so then he has accepted the third party's offer also.

Although he is not personally liable below the contract and hence cannot personally enforce it in such the event of its breach. Thus only the principal can sue or be sued there under like as:

Exceptions

Where an agent would be personally liable whether;

(a) If he executes a deed in his own name: like Appleton v. Binks (1804) principal which not exist or has no capacity.

(b) If he signs a bill of exchange in his own name there without indicating that he is acting as an agent.

(c) If he contracts as agent although is in fact a principal

(d) Whether the custom of particular trade makes him liable also.

Posted Date: 1/22/2013 5:39:17 AM | Location : United States







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