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







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