Types of authority - agency law, Business Law and Ethics

Types of Authority - Agency Law

Further there are three types of authority namely like:;

(a) Real or factual

However this is the authority that in fact is given to the agent through the principal.  It may be through word of mouth or in written.  Then this authority may be: like;

  • Express  and One Is
  • Implied and One Is
  • Customary or Mostly Also.

 

(b) Obstensible or apparent

Therefore this is the authority that in fact the agent has not been given through the principal although which he appears to have through reason of the principal's conduct.  Hence it is based on the conditions of the principal such like conduct determines scope.  Whether it is the authority exercised through an agent create through Estoppel.

(c) Resumed authority

Therefore this is the authority such the law deems the agent to have.  Hence it is conferred on the agent through law.  Conversely it is not given through the principal nor is it based on such principals' conduct. Whereas it is the authority exercised through agents about necessity and from cohabitation.

Posted Date: 1/22/2013 5:33:21 AM | Location : United States







Related Discussions:- Types of authority - agency law, Assignment Help, Ask Question on Types of authority - agency law, Get Answer, Expert's Help, Types of authority - agency law Discussions

Write discussion on Types of authority - agency law
Your posts are moderated
Related Questions
John, a young CPA and one of the audit team members for Moulberg Electrical Appliances Ltd, has developed very good insights into the company's systems in the last 12 months and wa

As organisations affect many people, they have obligations to their employees, consumers, community and the world. They have a responsibility to conduct business in a way that is n

Question 1: (a) State five differences between Law and Ethics. (b) Define what is meant by a ‘code of ethics' and state its importance for engineers. (c) Define the followin

Case Study You have been asked to serve as a nursing representative on a government committee to look at funding for health care of undocumented individuals who work in the United

Registration of Resolutions: By S.143(1) a printed copy of the following resolutions shall, within 30 days after the passing thereof, be delivered to the registrar for registr

Loans to Directors: Section 191(1) renders unlawful any loan made by a company to a director of the company or its holding company. It is also unlawful for the company to guar

Explain about the codified systems. Codified (civil law) systems: It is a rule based approach to law making and it is designed to give a comprehensive code of laws for th

Interpersonal Relationships Entrepreneurs are more concerned with people's accomplishments than with their feelings. They generally avoid becoming personally involved and

WHAT WAS THE IMMUNITY FROM JURISDICTION   States are recognized as having authority over people, things and events within their own territory and therefore may exercise jurisdict

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.