Duties of the principal - agency law, Business Law and Ethics

Duties of the Principal - Agency Law

However the duties of the principal for the agent are like:

Remuneration

Whether to pay the agreed commission where it becomes due so strictly in accordance with the terms of the contract about agency.  Like an agent in possession of the principal's goods possibly will retain the goods than security for payment concerns outstanding commission.  Though out this is called a lien or say general or particular although it does not confer power of sale about the goods in question.

Indemnity

Whether to indemnify the agent through refunding to him any out about pocket expenses personally incurred in such the bona fide execution of his mandate. like e.g. Great Northern Railway v. Swafield.

Posted Date: 1/22/2013 5:28:14 AM | Location : United States







Related Discussions:- Duties of the principal - agency law, Assignment Help, Ask Question on Duties of the principal - agency law, Get Answer, Expert's Help, Duties of the principal - agency law Discussions

Write discussion on Duties of the principal - agency law
Your posts are moderated
Related Questions
Illustrate the private bill of members? Private members’ Bill: It is where some MP’s are specified the chance (through ballot) to introduce a Bill on something which is o

What are the functions and powers of the United Nations General Assembly? The functions and powers of the United Nations General Assembly are as illustrated here: • To see a

Compulsory Liquidation :                                       A petition is presented to the High Court under s.218 of the Companies Act.  The petition will specify one of the

State in brief about the term - Reputations Reputations can be defined as the actions an agent and expected to take. If he takes it up, he establishes his reputation or otherwi

Duties of the Principal - Agency Law However the duties of the principal for the agent are like: Remuneration Whether to pay the agreed commission where it becomes du

Remedies of the Ultra Vires Lender:                          In Sinclair v Brougham (26) the House of Lords explained that no action or suit lies at law or in equity to recove

Select a specific industry or corporation and analyse the factors that determine a competitive or anticompetitive outcome;    - Factors such as profit motives interacting with the

Betty and Veronica always fell in love with the same men. Veronica got very jealous of Betty for stealing Archie away from her and decided to start sending her anonymous

The International Court of Justice The International Court of Justice (ICJ) issued a legal opinion on the legality of nuclear weapons, which says that the threat or use of forc

QUESTION The Employment Rights Act provides- No employer shall terminate a worker's agreement for reasons related to the worker's misconduct unless the worker has been affor