Agency law and the statutor

All this is clearly defined so as to make it easier for any given business activity to take place without any legal wrangling with respect to agency.

It is a contractual relationship between two parties i.e. the Principal authorizes another party (agent) to do on his or her behalf various acts, which directly affect the principal's actions in relation to third parties. This gives rise to a legally recognized special relationship (fiduciary relationship), which imposes a high level of trust and responsibility on the agent (

One of the basic requirements of any agent is to act towards improving the rights and situation of the principal to the best of his ability ensuring that in now way does he compromise the position of the principal.


It is said that only those persons who have full contractual capacity may hire an agent i.e. the principals themselves. On the other hand agents can be employed even if they do not have full contractual capacity and can employ the rights and privileges given to them through the contractual agreement and these cannot under any circumstances exceed the powers of the princ



Join Now
  Get instant access to over
85,000 Term papers and
Saved Papers

Save your essays here so you can locate them quickly!

"I got the best grade I've ever gotten A+"
Mary P.
"This information was helpful and easy to find."
Kris DD.
"This site is so helpful! You have opened my eyes to learning thank you!"
Karen F.
"I liked the information that you gave to me because it helped me do a analytical essay for this short story and i give it a 10/10 =) "
Dave M.
"it really helps me get different point of views on some essay subjects."
Steve D.
Home | Custom Essays | Join | FAQs | Support | Acceptable Use Policy
All papers are for research and reference purposes only!
Copyright © 2002-2017 RAD All Rights Reserved. DMCA HMS