Theories That Seek To Define and Explain Agency. 1) Power Liability Theory - Agency exist when a person acquires the power to alter the P’s legal relations with a T so that onlt the P can sue or be sued by the T - Issue: It focuses on external rather than internal aspect of agency. Furthermore some agencies do not fall into that definition i.e. Estate Agents 2) Consent Theory - Agency is a fiduciary rship that arises when a principal manifests assent to another person (A) that the A should act on
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AGENCY 1. Agency Relationship Cases Definition Principal authorizes Agent to enter into legal transactions (contract) with Third Party on Principal’s behalf Agency relationship between P and A A’s obligations to P: 1. Act according to terms of appointment and within scope of authority 2. Not liable to P or TP 3. Carries out duties with care and skill‚ keep true and proper accounts 4. Cannot conflict P’s interest / act for personal gains 5. Cannot delegate whole duty to others P’s
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The agency theory deals with agency problems resulting from conflicts of interest that may emerge in contractual relationships when parties are differently informed or uncertain. The main objective of agency theory is to explain how contracting parties design contracts to minimize the costs associated with such problems. Agency theory also underscores the existence of market and institutional mechanisms that complete contracts to reduce these problems. Agency theory upon two key concepts: asymmetric
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Vietnam’s Beverage Market Update Friday‚ 16 July 2010 Market structure and size Despite the recent global financial crisis and economic recession‚ Vietnam’s beverage market has managed to remain a strong growth opportunity. Alcoholic consumption in 2009 was estimated at 28‚034 billion VND‚ increasing by 4.47 percent year-on-year (approximately US$1.54 billion‚ falling by 5.88 percent due to the dong devaluation). Accordingly‚ beer sales were estimated at 2‚005 million liters‚ increasing by
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possible advantages and disadvantages facing a board of directors composed of insiders? (b) What are the possible advantages and disadvantages facing a board of directors composed of outsiders? The board of directors plays a vital part in the domination of any company whether it is a family business or otherwise. For every company or organization the board of directors is different in terms of its composition‚ roles and responsibilities of the directors and its structure. The composition is normally
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for the International Distribution of Goods ii © International Trade Centre‚ August 2010 Model Contracts for Small Firms: International Commercial Sale of Goods Chapter 7 International Commercial Agency Introduction ITC Model Contract for an International Commercial Agency Chapter 8 International Supply of Services Introduction ITC Model Contract for the International Supply of Services © International Trade Centre‚ August 2010 iii Model Contracts for Small Firms:
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International Journal of Innovative Computing‚ Information and Control Volume 6‚ Number 6‚ June 2010 ICIC International c 2010 ISSN 1349-4198 pp. 2459–2467 A SURVEY ON HUMAN COMPUTER INTERACTION TECHNOLOGY FOR DISABLED PERSONS Feng Wang and Xiangshi Ren∗ School of Information Kochi University of Technology 185 Miyanokuchi Tosayamada-cho Kami-shi‚ Kochi 782-8502‚ Japan ∗ Corresponding author: ren.xiangshi@kochi-tech.ac.jp Received November 2008; revised June 2009 Abstract. To protect
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Directors The directors of an organization are the persons who are members of its board. Several specific terms categorize directors by the presence or absence of their other relationships to the organization.[6] An inside director is a director who is also an employee‚ officer‚ major shareholder‚ or someone similarly connected to the organization. Inside directors represent the interests of the entity’s stakeholders‚ and often have special knowledge of its inner workings‚ its financial or market
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Analytical Report On Case Study titled “Human Resources at Hewlett-Packard By Richard Werssowelz & Michael Beer” Table of Contents Sl. 1 2 3 4 5 6 7 8 Contents Cover Page Table of Contents Executive Summary Issue Statement Information Analysis Findings Page No Remarks Problems & Challenges Recommendations Executive Summary The case study‚ which we analyzed‚ was written to study the concept of Human Resources of Hewlett-Packard (HP)‚ which was started in 1938 by two electrical engineers Bill
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Passenger/Itinerary Receipt Electronic ticket 220-2985548741 Page/Seite:1 Please print this receipt and retain throughout your journey. Bitte drucken Sie diesen Beleg aus und führen ihn bei Ihrer Reise mit. Travel data for/Reisedaten für: Booking reference/Buchungscode: Ticket number/Ticketnummer: Nassiakou Maria Mrs ZCDK2U 220-2985548741 Flight Flug LH 1285* Date Datum 05.December from von Athens to nach Frankfurt Departure Status Abflug Status 05:55 Confirmed Class
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