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
SOURCES OF INTERNATIONAL LAW Apart from Treaty and Customs, the Statute of International Court of Justice (ICJ) under its article 38 (1) mentions some other sources of internati

Agency Law - Agency and Partnership Sources of Agency Law However the law of agency in the US is based on the common law rules that have been developed through the Engl

What are the disadvantages of delegated legislation? Disadvantages of delegated legislation: • The delegated body that is responsible for the legislation is not represent

Deadlock in the management: The company existed only to "work a particular patent" and as it could not do so it should be wound up. But if there are two or more alternative

Q. Impact of phoenix activity on employ superannuation? Employees experience a range of impacts other than lost wages, entitlements and superannuation from phoenix activity. Fi

Contents of Group Accounts: By s.152(1), the group accounts laid before a company shall give a true and fair view of the state of affairs and profit or loss of the company and

Question: (i) Define the term "conflict", "grievance" and "dispute" (ii) What are the key elements of a conflict? (iii) Describe the transformation process of a

State the term delegated legislation. Delegated legislation: Parliament sometimes provides the capability to legislate to other bodies as like regional parliaments and go

American Courts, though vested with considerable Constitutional authority, are limited in power by the other branches of the government, the States to some extent, and the people.

What are the ways of aggregate demand policy To illustrate some of the issues involved in policy coordination we will focus on monetary policy. We discuss three ways in which