Formation and characteristics of agency, Business Law and Ethics

Assignment Help:

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.


Related Discussions:- Formation and characteristics of agency

Loans - void contracts, Loans - Void Contracts However all loans made ...

Loans - Void Contracts However all loans made for an infant are void and irrevocable.  Since in Leslie Ltd. v. Sheill the infant defendant had obtained two advances of two hun

Intention - element of contract, Intention - Element of Contract Moreo...

Intention - Element of Contract Moreover to an agreement to constitute a contract then the parties thereto must have intended it for have legal consequences.  Subsequently an

Important resolutions which have great impact of terrorism, Two very import...

Two very important resolutions which had a great impact on description of terrorism UNSC has also declared incitement as an offence. The interpretation of terrorism formulated

Statutes of general application - subsidiary legislation, Statutes of Gener...

Statutes of General Application: Whereas there is no authoritative definition of a "statute of simple application" the phrase is presumed to refer to those statutes that appli

What is the stability of the emu banking sector, What is the Stability of t...

What is the Stability of the EMU banking sector Low currency risk, external balance and the stability of the EMU banking sector and financial markets are club goods whose benef

State the royal assent for the procedure of parliamentary, State the royal ...

State the royal assent for the procedure of parliamentary. The Royal Assent: It is specified when the Bill has passes by both Houses successfully and is usually simply fo

Explain the universal declaration of human rights 1948, Explain the Univers...

Explain the Universal Declaration of Human Rights 1948 The Universal Declaration of Human Rights 1948 (UDHR) is the nucleus of all Human Rights legal instruments from which oth

Provisional contracts - law of contract, Provisional Contracts - Law of Con...

Provisional Contracts - Law of Contract However occasionally an agreement may be illustrated through the parties thereto as being as "a provisional agreement" until a legally

Creditors meeting - winding up, Creditors meeting - winding up: The cr...

Creditors meeting - winding up: The creditors' meeting is convened for the same day at a later time than the members' meeting or it is held the following day.  One of the dire

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