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

Common law rule - meetings and resolutions, Common law rule - meetings and ...

Common law rule - meetings and resolutions: The common law rule applies irrespective of whether the failure to give notice of the meeting was deliberate or unintentional.  How

Use of shares of the minority, Use of shares of the minority: X, Y and...

Use of shares of the minority: X, Y and Z held 4,500, 4,500 and 1,000 one pound shares respectively, of Company B.  They were the only shareholders and  X and Y were the direc

Discuss the professional and ethical issues, John, a young CPA and one of t...

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

Company law, # difference between variation of class right and variation of...

# difference between variation of class right and variation of enjoyment

Proposal to reduce the votes of preference shares, Proposal to reduce the v...

Proposal to reduce the votes of preference shares: In making this approach the courts have nonetheless kept the door open for action to deal with discrimination against a clas

Legal issue , What is the prospective  why should they be liable , how the ...

What is the prospective  why should they be liable , how the sings for emerge of ISP from the safe horbor either DMCA or Directive in Eu has been come within the court? What is

Define the non-state actors, Define the non-state actors Besides the e...

Define the non-state actors Besides the efforts of ILC in defining a link between the state responsibility and non-state actors, some UNSC resolutions have tried to define the

Register of directors shareholdings, Register of Directors' Shareholdings: ...

Register of Directors' Shareholdings: Section 196(1) requires every company to keep a register showing the number, description and amount of any shares or debentures which are

State articles of universal declaration of human rights, Normal 0 ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

restraint of trade clause, a) Explain two scenarios in which a restraint o...

a) Explain two scenarios in which a restraint of trade clause would typically be used. b) Suppose your employer wanted to include a restraint of trade clause in your employment

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