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    Agency Relationship

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    Matthew Smith Agency Relationship Agency relationship is a consensual relationship between two parties‚ where one party‚ the principal‚ gives authority to another party‚ the agent‚ to act on behalf of and under the control of the principal to deal with a third party‚ thereby creating a fiduciary relationship. The law of agency allows one person to employ another to do his/her work‚ sell his/her goods‚ and acquire property on his/her own behalf. Although a principal-agent relationship can be

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    Law of Agency

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    Law of Agency WHAT IS AN AGENCY? Sec 135 of Contract Act‚ agency is the relationships which subsists between the principal and the agent who has been authorized to act for him or represent him in dealings with others. WHO CAN BECAME A PRINCIPAL OR AGENT? Any person who is 18 years old and above and who is of sound mind may be principal. As between the principal and third persons‚ any person can became an agent. BUT persons of unsound mind and who are below 18 years are not liable towards their

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    Moral Agency

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    source‚ socially essential concepts created from human mind‚ such as justice‚ would be undermined (responsibility implies freedom of choice) and‚ in short‚ civilization and human values would crumble. It is useful to compare the idea of moral agency with the legal doctrine of mens rea‚ which means guilty mind‚ and states that a person is legally responsible for what he does as long as he should know what he is doing‚ and his choices are deliberate. Some theorists discard any attempts to evaluate

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    Extinguishment of Agency Modes of extinguishment of agency (A) By Revocation of the Principal 1] Revocation - refers to the act of the principal of terminating the agency at will confidence and representation being the foundation of the contract. The principal may revoke the agency at will‚ and compel the agent to return the document evidencing the agency. (Art. 1920) 2] Who may revoke agency when there are two or more principals. When the power of attorney was granted for a

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    Termination of Agency

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    11) Termination of agency |   |   | 1. | By agreement |   |   |   |   |   | a. | On the basis that an agency relationship is created by agreement between the principal and the agent‚ such a relationship can also be brought to an end by mutual agreement between the parties‚ either in writing or orally. |   |   | b. | Termination by agreement may also occur if the agency relationship is terminated pursuant to the provisions of the agency agreement itself. The following situations may

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    Law of Agency

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    TOPIC THREE: LAW OF AGENCY * Nature and Creation of an Agent * Duties of an Agent to his Principal * Duties of a Principal to his Agent * Termination of Agency Contract     NATURE OF AGENCY What is an agency? Section 135 of Contract Act 1950: “Agency is the relationship which subsists between the principal and the agent who has been authorized to act for him or represent him in dealings with others.” There are two types of agency contracts:- 1.  Contract between principal & agent

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    Agency of Necessity

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    B.A. LL.B. (Hons.) A project in the subject of Contract-II on the topic titled as ‘Agency of Necessity’ Submitted to: Prof. Owais Hasan Khan Asst. Professor Nirma University 1|Page Submitted by: Dhwani Tanwar 12BAL054 Semester IV DECLARATION The text declared in the project is the outcome of my own efforts and no part of this report has been copied in any unauthorized manner and no part in it has been incorporated without due acknowledgment. Dhwani Tanwar 12BAL054

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    Agency Law

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    This case comes under Law of Agency. Agency Law is concerned with any “principal‚ agent and third party” relationship; a relationship in which one person has legal authority to act for another. Agency involves three parties : • Principal – Mr. Smithfield • Agent – U.K. Rail • Third Party – Pig resort/Care Centre Agency relationship may arise in five ways and one them which arise in this case is “Agency Of Necessity” and the requirements are : • Genuine necessity – there was a delay in delivering

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    Agency: Business Law

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    Refer notes - creation of agency ] 2. [ Refer notes - Duties of Agent to Principal ] 3. [ Refer notes - Duties of Principal to his Agent ] 4. 4 remedies available: Principal may repudiate the contract - Section 168 Contracts Act‚ 1950 Principal may recover the bribe from agent - Section 169 Contracts Act‚ 1950 Principal may refuse to pay commission to Agent Principal may dismiss agent for breach of duty 5. [ Refer notes - Termination of Agency ] 6. (a) 3 conditions:

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    Travel Agency

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    * Objectives of the studies * Methodology * Significance of the studies * Scope of the study * Chapterisation Chapter.2 Review of Travel Agency * Product of a Travel Agency * Activities of a Travel Agency * Department of a Travel Agency * Principles of a Travel Agency * Right and Duties of a Travel Agency Chapter.3 Profile of Madura Travels * Profile * History * Organization chart * Computer and Reservation system * International sector

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    Agency Theory

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    INTRODUCTION An agency in general‚ is the relationship between two parties‚ where one is a principal and the other is an agent who represents the principal in transaction with a third party. Agency relationship occur when the principal hire the agent to perform a service on the principal behalf. In common‚ principal will delegate decision making authority to the agent. Agency Theory is concerned with resolving problems that may exist in agency relationship; that is‚ between principals (such as

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    Agency Theory

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    AGENCY THEORY AND ACCOUNTING CHOICE: ISSUES AND HALLENGES BY OMEJI IKECHUKWU MAT NO MGS0803060 DEPARTMENT OF ACCOUNTING FACULTY OF MANAGEMENT SCIENCES UNIVERSITY OF BENIN‚ BENIN-CITY‚ EDO STATE‚ NIGERIA. OCTOBER‚ 2012. AGENCY THEORY AND ACCOUNTING CHOICE: ISSUES AND HALLENGES BY OMEJI IKECHUKWU MAT NO MGS0803060 DEPARTMENT OF ACCOUNTING FACULTY OF MANAGEMENT

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    Travel agencies

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    0-1225826275544 Travel agency issues On one hand travel agencies can take a great advantage from the internet but on the other hand it is one of their biggest enemies. Because there are so many negative articles about a few travel agencies and people are losing their trust in them. So they are strat planning their own trip not using any agencies. So it is a really hard job to build up a good image about their company especially when they are new in business. The agency has to earn people trust

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    The Agency Problem

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    The Effectiveness of Pro-market Reforms‚ Ownership Structure and The Institutional framework at Addressing the Agency Problem and how Different Types of Firms in Transition Economies are affected by these measures. As economies grow‚ in order for businesses to retain market shares‚ they can no longer rely on organic growth‚ many seek external finance either through initial public offerings or through banks‚ mutual funds and insurance companies. Although there are many side benefits of pursuing

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    Administrative Agency

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    Administrative Agency Name Here School Here 1. State the administrative agency which controls the regulation. Explain why this agency and your proposed regulation interests you (briefly). Will this proposed regulation affect you or the business in which you are working? If so‚ how? Submit a copy of the proposed regulation along with your responses to these five questions. The proposed regulation can be submitted as either a separate Word document (.doc) or Adobe file (.pdf). This means you will

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    Agency Law - Essay

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    questions. 1. What is an Agency? Agency is a fiduciary relationship “which results from the manifestation of consent by one person to another that the other shall act in his behalf and subject to his control‚ and consent by the other so to act”. A party who employs another person to act in his behalf and subject is called a Principal. A party who agrees to act on behalf of another is called an Agent. Agency is governed by a large body of common law known as agency law. Eg: A real estate broker

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    Agency Scra: Case Digest

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    following facts were found to be established by the majority of the Special Division of Five of the Court of Appeals: In a document Exhibit "A" executed on June 2‚ 1956‚ Vicente M. Domingo granted Gregorio Domingo‚ a real estate broker‚ the exclusive agency to sell his lot No. 883 of Piedad Estate with an area of about 88‚477 square meters at the rate of P2.00 per square meter (or for P176‚954.00) with a commission of 5% on the total price‚ if the property is sold by Vicente or by anyone else

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    Agency theory

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    Agency Theory and Its Consequences A study of the unintended effect of Agency Theory on Risk and Morality M.Sc. FSM Master Thesis: Agency Theory & Its Consequences Master Thesis at Copenhagen Business School Student: Thomas Rüdiger Smith Programme: M.Sc Finance & Strategic Management Advisor: Sven Junghagen‚ Department of Management Politics & Philosophy August‚ 2011 Total Pages: 78 (133 with appendix and summary) Characters: 181647 (246486 with appendix and summary) Thomas Rüdiger

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    law of agency

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    LAW OF AGENCY The law relating to agency in Kenya is contained in the Factors Act 1889 and the common law as modified by the doctrines of equity. Agency may be defined as a legal relationship that exists between a person called the agent is considered by law to represent another known as the principal in such a way as to affect the principal’s legal position in relation to 3rd parties. It has also been defined as a relationship where a party expressly or implied consents that the other should

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    Travel Agency

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    3.1 Describe the different types of business that operate within the tourism industry Travel agencies can be categorized briefly into three different types‚ they are include: 1. In bound Tour Operators 2. Outbound Tour Operators 3. Corporate Travel Service Agencies 4. Land operators – Cooperation among travel agencies. For inbound tour operators‚ the customers are mainly tourists and visitors from foreign countries such as USA‚ England and Japan. About the tour operations

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