Archives Tag: Law of Agency
The Law & You: The Vitiating Elements of Contract
April 19, 2022
A contract can be defined as: A promise or set of promises which the law will enforce. The agreement/contract, creates rights and obligations that may be enforced principally through the instrumentality of the courts, however there are situations where the parties have reached an agreement but the questions arises whether the existence or non-existence … Continue reading The Law & You: The Vitiating Elements of Contract
The Law & You: The Rights of an Agent
April 19, 2022
An agent is a person who acts in the name of and on behalf of another, having been given and assumed some degree of authority to do so. Most organized human activity—and virtually all commercial activity is carried on through agency. No corporation would be possible, even in theory, without such a concept. We … Continue reading The Law & You: The Rights of an Agent
The Law & You: The Duties of an Agent
April 19, 2022
Since most agency relationship are established by contract, the agent’s duties and obligation are largely defined by the terms of the contract but additional duties are established by agency law, unless the contract specifically excludes or modifies them. These duties arise from the trust and confidence that forms the foundation of an agency relationship and … Continue reading The Law & You: The Duties of an Agent
The Law & You: The Scope of the Law of Agency
April 19, 2022
In modern life, it will be virtually impossible for a business to run efficiently without agents. For instance, corporations must hire agents to work for them since a corporation is an artificial person. An agent has the potential to form contracts on behalf of the principal and in so doing, bind the principal. As a … Continue reading The Law & You: The Scope of the Law of Agency
