"Agency" Essays and Research Papers

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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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Agency Relationship

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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Sales Agency - Extinguishment

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...

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Termination of Agency by the Act of Parties

Explain the ways of termination of agency by the act of the parties. Termination of Agency “By the act of the parties” By the act of the parties, there are 2 ways of termination of agency can be done. The first is the agency contract can be terminated by mutual revocation. Once they agreed to terminate the agency, the agent has no longer any authority...

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Agency: Business Law

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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Termination of Agency

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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Agency Law

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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Landmark Sports Agency: My Dream Job

Sharayah Campbell ATSW 430 Landmark Sports Agency One job that has always been a dream of my own is to one day be the owner or partner of Landmark Sports Agency in Los Angeles California. I have always been interested in sports, but I have always wanted a career on the business side rather than being involved with the sport directly like a coach. The path to attaining my dream job will not be simple. It will require more education, and a lot of perseverance. After graduating from Clarion...

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CONCEPT OF AGENCY Part A INTRODUCTION The legal concept of agency plays an essential role under commercial transactions. This essay will first explain the definition of agency and methods of creating agency relationship, then the benefits and drawbacks of agency will be illustrated. Finally, there are two examples presenting formal and informal agency relationship. THE LEGAL CONCEPT OF AGENCY An agency refers to a legal relationship between agent and principal. A broad concept of agency is a...

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Bus/210 Week 4 Swot Analysis of New World Agency Inc.

SWOT Analysis of New World Agency Inc. NAME BUS 210 – Foundation of Business INSTRUCTOR University of Phoenix   Company Profile New World Agency (NWA) is a sports management firm that aims to provide elite athletes with unparalleled professional representation in North America’s most competitive and lucrative sporting associations. Founded in 2010, NWA brings together highly credentialed industry professionals to offer a comprehensive solution to players’ needs both on and off the field of...

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