ELEMENTS OF THE LAW OF AGENCY: Love or Hate the Agent as an Intermidiary / Mfalme Davis
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An agent is a person having authority to represent, or act on behalf of another person who is the principal, with the object of bringing the principal into legal relations with third parties.
This relationship between the principal and the agent is called agency. In valid contracts of agency, both the principal and the agent has to have full contractual capacity for their mutual rights and obligations to be legally enforceable.
This requirement becomes necessary more particularly when the agent would desire to exercise his rights to remuneration for his agency.
As regards the authority of the agent, it is generally accepted that an agent has implied authority to do whatever is necessary for the prudent execution of his express of implied, cannot exceed the limits of his principal.
In other words, what the above implies is that the agent cannot exceed the limits of his principal is legally empowered to do. However, the principal is not bound by the act of the agent where the latter does anything outside the scope of ostensible authority, unless the principal, in fact, authorized the agent to do so.
Again, in valid contracts of agency, the agent must fully carry out his duties to principal as per the terms of his employment, and only then he can be able to claim his rights against the principal.
However, the agent is liable for his wrongful acts of actionable negligence either in misrepresentation, tortuous conduct and breach of warranty of authority. it is noteworthy that the principal has indefeasible power to revoke the authority which he has given his agent.
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This relationship between the principal and the agent is called agency. In valid contracts of agency, both the principal and the agent has to have full contractual capacity for their mutual rights and obligations to be legally enforceable.
This requirement becomes necessary more particularly when the agent would desire to exercise his rights to remuneration for his agency.
As regards the authority of the agent, it is generally accepted that an agent has implied authority to do whatever is necessary for the prudent execution of his express of implied, cannot exceed the limits of his principal.
In other words, what the above implies is that the agent cannot exceed the limits of his principal is legally empowered to do. However, the principal is not bound by the act of the agent where the latter does anything outside the scope of ostensible authority, unless the principal, in fact, authorized the agent to do so.
Again, in valid contracts of agency, the agent must fully carry out his duties to principal as per the terms of his employment, and only then he can be able to claim his rights against the principal.
However, the agent is liable for his wrongful acts of actionable negligence either in misrepresentation, tortuous conduct and breach of warranty of authority. it is noteworthy that the principal has indefeasible power to revoke the authority which he has given his agent.
Now you can buy Books online in USA,UK, India and more than 100 countries.
*Terms and Conditions apply
Disclaimer: All product data on this page belongs to
.No guarantees are made as to accuracy of prices and information.
