Formation and characteristics of agency, Business Law and Ethics

Formation and Characteristics of Agency

An agency may come into existence by the following ways:

Contract (Appointment) or agreement

Further this can be done in any way: like orally and may in writing or partly whether orally and partly in writing also.

Characteristics of Agency are as below:

  1. The agent performs a service to the principal and one is
  2. He represents the principal and one is
  3. Acts of the agent affect the legal place of the principal also.

Exception

As there agent with authority for execute a deed on behalf of the principal be obliged to appointed through a deed recognised like; POWER OF ATTORNEY.

Posted Date: 1/22/2013 5:00:08 AM | Location : United States







Related Discussions:- Formation and characteristics of agency, Assignment Help, Ask Question on Formation and characteristics of agency, Get Answer, Expert's Help, Formation and characteristics of agency Discussions

Write discussion on Formation and characteristics of agency
Your posts are moderated
Related Questions
Interpersonal Relationships Entrepreneurs are more concerned with people's accomplishments than with their feelings. They generally avoid becoming personally involved and

Question 1: " One of those general precepts of our law of contract is that covenants legally entered into cannot be revoked except by the mutual consent of the parties theret

Determine the example of a relational contract A characteristic macro example of a relational contract with a strong lock-in effect is membership of a currency community. Self-

Elements of a Contract - Offer Further this is an unequivocal manifestation through one party of its intention to contract into another. So well it is a clear intimation for i

The purpose of the assignment is to allow you to undertake independent research into a particular aspect of law, to reflect on and consider particular legal issues and to apply you

Unincorporated Associations:                 A group of people may come together in order to pursue or  promote a common purpose or activity but without going through the vari

As you have already learned during your tenure at Midwest Valueland (MV) and from exposure to business news, it is not unusual for leaders and managers to encounter ethical situati

how evidence is used to prove a criminal offence: This question is asking you to consider the importance of evidence, how it is used and how reliable it may be in supporting

Necessaries - Binding Contracts Definition of 'Necessaries' cleared by S. 4(2) to the Sale of Goods Act like "goods appropriate for the condition in life of that infant or min

Description of terrorism UNSC has successfully come up with laws to deal with terrorism and with the help of the theory of self determination, use of force and IHL, tried to re