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 theory Agency theory identifies the agency relationship where one party‚ the principal‚ delegates work to another party‚ the agent. In the context of a corporation‚ the owners are the principal and the directors are the agent. This model of corporate governance and subsequent research focused on resolving conflicts of interest between corporate management and shareholders (Jensen and Meckling‚ 1976) and has largely adopted an agency theory approach. Key assumption is that the principals and
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independent estate agent Heaventown is a leading residential property company in the UK‚ working across local‚ national and international markets‚ delivering unrivalled customer service through the commitment and inspiration of its staff. . Our agency provides a full range of professional property services including: Sale and Purchase of all types of property‚ Villas‚ Town and Village houses‚ flats and plots etc. Drafting of all types of contract pertinent to the sale or purchase of a property
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Problems with Formal Networks Formal networks are defined‚ setup and maintained by the organization. They are put into place to make sure information‚ resources‚ problems and punishments are used efficiently and not abused. When these networks are used properly everything will flow up and down the chain of command smoothly. This chain of command comes from the basic principle of a formal network; assigning titles to employees and to give them a certain amount of responsibility to go along with
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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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BUSINESS CONDUCTING AGREEMENT ------------------------------------------------------- This Business Conducting Agreement made on this ___ day of ________ 2009. BETWEEN Mr/Mrs ________________________________________________ hereinafter jointly referred to as the Owners (which expression shall‚ unless it be repugnant to the context or meaning thereof‚ be deemed to mean and include its successors and assigns) on the FIRST PART AND M/S. ___________________________ a Partnership firm incorporated
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Unit 2 short paper 1 Prenuptial Agreements William E. Ogle Unit 2 Short Paper: Prenuptial Agreements Family Law PA 250-01AU Prof; Kinsella Unit 2 short paper 2 This Act is intended to be relatively limited in scope. Section 1 defines a "premarital agreement" as "and agreement between prospective spouses made in contemplation of marriage
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Canada and International Agreements Agreement|Acronym|Canada and the Agreement| North American Free Trade Agreement|NAFTA|§ It was effective in January 1994.§ It is an agreement between Canada‚ the Untied States‚ and Mexico aiming to remove the tariffs among members.§ Canada’s exports to the United States have increased. 50% of Canadian products are sent to the States.§ Canada’s merchandise exports go to 39 out of 50 states.§ Mexico has almost doubled its exports to the States.| Free Trade Area
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Marriage is defined as a relationship that is legally recognized and established by a civil or religious ceremony‚ joining together in wedlock two people who intend to live together as sexual and domestic partners "until death do them part." It is also defined as a blend of two or more entities. The word Blend is defined as a mixture of two or more substances so that they do not readily separate. A marriage should also have trust. Trust is defined as the confidence and the reliance that one places
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ASPECTS OF BUSINESS LESSON 10: VOID AGREEMENTS Learning Outcomes After today’s class you should be able to answer the following questions; • • • The agreements expressly declared to be void The uncertain agreements The wagering agreements have not been discussed in the preceding chapter. Illegal agreements are also ‘unlawful agreements’ as they are expressly declared void by the Contract Act. It may be recalled that in the case of illegal agreements‚ transactions collateral to them are
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