Commitment of agent - agency law, Business Law and Ethics

Assignment Help:

Commitment of Agent - Agency Law

However responsibilities of an agent for the principal are: as;

(a) Care and skill

However to exercise due diligence in such performance of his responsibility and for apply any special skill that he professes for have.

Furthermore "Diligence' primarily means such the agent, whether working for the principal then must exert the same effort like as show the same enthusiasm such he would have exerted or shown where acting in his own affairs. Therefore an agent appointed to sell must endeavour for obtain the highest price possible although an agent appointed to buy must endeavour for buy at the lowest price possible.  Just to an illustration, as read like;  Kepple v. Wheeler.

(b) Account

However to render an account whether required in those cases when the agency entails observance of an account through the agent.

(c) Estoppel or may respect for principals' title

Although not to become principal as against his principal or employer yet in particular, then an agent appointed for buy property must not sell his own property that for the principal and an agent appointed for sell must not buy the property: like;  Armstrong v. Jackson.

(d)Obedience  and one is

(e) Bonafide and one is

(f) Separate accounts and one is

(g) Keep the principal informed also.

Therefore a breach of the duty renders such the contract voidable on the option of the principal.

(h) Never for make any secret profit : whether he does and as;

  1.     The principal may recuperate the amount of the secret profit from him. And one is
  2.     The principal may reject to pay him the agreed commission like e.g. Andrews v. Ramsay & Co.
  3.     Thus the principal may dismiss him without notice whether notice is compulsory to terminate his agency. And one is
  4.     The principal may sue the agent delivery and the third party giving the secret payment to damages suffered. And one is
  5.     Thus the principal may repudiate the contract where or not the secret payment had effect at the agenta also.


(i) Personal performance of non-delegation

When never delegate his authority then unless the delegation is in such ordinary way of business or is authorised through the principal. Hence this rule is expressed in the Latin maxim "delegatus non potest delegare" also.

(j) Confidentiality or privacy

(k) whether never  to disclose any confidential information or document entrusted for him through the principal.


Related Discussions:- Commitment of agent - agency law

Determine the complexities of the policy process, Determine the Complexitie...

Determine the Complexities of the policy process Complexity of the policy process, affects the form of delegation of powers to the agents by the principal. When there are a lar

Distinguish between dismissal and redundancy, Question 1: (a) Describe ...

Question 1: (a) Describe any five topics in employee relations from the following: Employee Engagement, Workplace Investigations, Employee Satisfaction, Performance Management,

Empowers directors - company management, Empowers directors - company manag...

Empowers directors - company management: In the case of companies which have adopted Table A, Article 107 empowers directors to appoint a managing director "for such period an

Explain self determination, Explain Self determination Self determinat...

Explain Self determination Self determination is actually the foundation of United Nations (UN) Charter. It is defined as a right of people to determine and to choose their ow

Proof of debts, PROOF OF DEBTS:                                       ...

PROOF OF DEBTS:                                       Many of the rules of bankruptcy apply to the discharge of the company's debts: s.310.  The liquidator must obviously requ

Recommendations for addressing phoenix activities, Recommendations for addr...

Recommendations for addressing phoenix activities Over the past two decades there have been a significant range of proposals for addressing phoenix activity. Most of these opt

Applied laws - judicial elucidation of acts, APPLIED LAWS: However sec...

APPLIED LAWS: However section 2 of the Interpretation and General Provisions Act specified like an "applied law" as:; (a)   here an Act of the legislature of another countr

Decisions for operating a business, When operating a business, an owner has...

When operating a business, an owner has to make numerous decisions on a daily basis. In some cases, a decision may increase profits, but the owner is uncomfortable making such a de

Profit and loss account, Profit and Loss Account: with s.148(1) the di...

Profit and Loss Account: with s.148(1) the directors of every company shall, at some date not soon than eighteen months later than the incorporation of the company and subsequ

Describe the relationship that bank shares with its customer, QUESTION 1 ...

QUESTION 1 Barclays Bank in Mauritius has interviewed various candidates for the post of Chief Executive Officer. Its HR department has requested you to provide them with some

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd