•Why can’t a supervisor’s personal accountability be delegated? Why are many supervisors reluctant to delegate?…
Once Palmer initiated the revocation of Ames’s authority to sell, Ames no longer had the authority to sell Palmer’s goods, even during the unexpired term of the contract. Although Palmer terminated the agency before the set date of the contract, legally he did not have the right, but he did possess the needed power. Therefore, because the authority of an agent is based upon the consent of the principal, the agency is terminated upon the withdrawal of such consent.…
The real estate agent expressed authority and acted as an agent of Cost Club. Cost Club is legally obligated to purchase the building site. An example of this is the case of Allen A Funt vs., Chemical Bank case. Funt handled Candid Camera from the 1940s to the 1980s. He embezzled money through the years from CBS directly to his own account. CBS sued the bank for not monitoring the account better, but the court ruled in favor of the bank because Funt had a signed document between CBS and himself allowing access to those accounts with express authority. The implied contract was made in good faith and fair dealing, even without a signed purchase agreement. Since the property owner passed up other offers to set a deal with Cost Club, it implies the intent for…
b. Apparent Authority-arises from principal when making 3rd party believe agent has authority to enter into contract…
2. The described scenario deals with agency by ratification. Unauthorized actions by an agent do not bind the principal to a contract. If an agent attempts an unauthorized act on behalf of the principal, the principal may either ignore or ratify the act. Ratification may be expressed in words or conduct and requires three conditions—that the agent purported to act on behalf of the identified principal, that the principal must have been capable of authorizing the act when it occurred and when it was ratified, and that the principal have full awareness of all material facts. Once an act is ratified, it is in effect as if originally authorized. While Ames was not initially authorized to purchase such merchandise at the price he…
terms of the contract, Woodrow, the agent, is authorized to act on behalf of Beta. Identify…
authority of an agent to do any act that, according to the custom of the community, usually accompanies the transaction for which the agent is authorized to act.…
The relationship established between two parties for lawful purposes, in which one party, named the principal, requests the other party or agent to represent him is called Agency. Agency relationships create fiduciary duties between the principal and the agent (Kubasek et al., 2012). In this paper, Team B will discuss the different types of Agency and the legal consideration surrounding each of them.…
Qus 2. Marginal analysis and the goal of the firm Ken Allen, capital budgeting analyst for Bally Gears, Inc., has been asked to evaluate a proposal. The manager of the automotive division believes that replacing the robotics used on the heavy truck gear line will produce total benefits of $560,000 (in today’s dollars) over the next 5 years. The existing robotics would produce benefits of $400,000 (also in today’s dollars) over that same time period. An initial cash investment of $220,000 would be required to install the new equipment. The manager estimates that the existing robotics can be sold for $70,000. Show how Ken will apply marginal analysis techniques to determine the following:…
Authority is defined as the ‘power or right to give orders, make decisions, and enforce obedience’. There are many different organisations that enforce discipline within the public services, which have the right to extend different levels of authority and enforce different levels of obedience within a service. These are;…
This case comes under Law of Agency. Agency law is concerned with any principal, agent and third party relationship. A relationship in…
4. Looking back at the experiment I talked about before, just think that even you would probably kill somebody if authority told you to.…
In Fahrenheit 451, written by Ray Bradbury, authority is viewed as ruthless and the individual is portrayed as innocent. This is also emphasised in two related texts, Whose Life Is It Anyway? By Brian Clark, and Shawshank Redemption, directed by Frank Darabont. The themes of ruthlessness and innocence are exemplified throughout all three texts, through the concept of the authority and the individual.…
Without question, it is vital to challenge the ideas and decisions of people in positions of authority. If one does not question authority, the people of the so called “no in positions of authority” would become mindless slaves to tyrants and despots. World history, literature, and American History all exemplify the necessity of questioning authority.…
authorized in order to carry out the representation, or are required by these Rules or other…