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

Defines controlled delivery, Defines Controlled delivery This conventio...

Defines Controlled delivery This convention legalized the act of Controlled delivery and defines "Controlled delivery" as "the technique of allowing illicit or suspect consignm

Analyse the extent of the criminal liability, One night Mr Kokintou and Ms ...

One night Mr Kokintou and Ms Mangetou, entered into a housethrough a window which was negligently left open by the owner of the house.  Whilst Ms Mangetou was keeping guard at the

Reserve capital, RESERVE CAPITAL: The reserve capital is defined by S....

RESERVE CAPITAL: The reserve capital is defined by S.62 of the Act as the portion of the issued but uncalled capital of a limited company which the company's members, by speci

Ways which affect the behaviour of the policy maker, Ways which affect the ...

Ways which affect the behaviour of the policy maker There may be at least three ways this uncertainty may affect the behaviour of the policy maker. a) He may chose mainly th

Interpretation of constitution - high court, Interpretation of Constitution...

Interpretation of Constitution - High Court After then under Section 67(1) of the Constitution gives that whether any question as to the interpretation of the constitution ari

Growth rate of the money supply in the domestic economy, Growth rate of the...

Growth rate of the money supply in the domestic economy On the horizontal axis is the growth rate of the money supply in the domestic economy, M. On the vertical axis is the gr

Misfeasance by the auditors, Misfeasance by the auditors: However it i...

Misfeasance by the auditors: However it is not sufficient to describe that the frauds must have been detected whether the entries in the books had been put mutually in a way w

Explain the meaning of the term reverse logistics, Question 1: (a) What...

Question 1: (a) What do you understand by the term Logistics Management? (b) What are the three types of costing which come under storage? (c) Explain the role of Public

Mind like inventions, Intellectual property refers to creations of the mind...

Intellectual property refers to creations of the mind like inventions, artistic and literary works, designs, and more used for profit. There are two categories of intellectual prop

Brief theoretical conceptualization of multiple equilibria, Brief theoreti...

Brief theoretical conceptualization of  Multiple Equilibria We now come to a brief theoretical conceptualization which may give us a basis for choice of agenda or a policy prop

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