RIGHTS AND OBLIGATIONS OF AGENT UNDER THE LAW OF AGENCY Introduction The law of agency is based on the maxim “Qui facit per alium facit per se” i.e. he who does an act through another does it by himself. The concept of representative capacity is the totem of agency. In the hustle and bustle of everyday life it sometimes becomes impossible to do everything ourselves and hence it becomes necessary to employ people to perform our acts. The person employed is the agent and the contract by which
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between the seller / the principal and the representative / the agent is governed by the Law of Agency. A fiduciary relationship created under the law of agency in which one person has a legal authority to act for another‚ can arise from1. 1. An oral or written expressed agreement‚ whereas agent is appointed by the principal for a particular task‚ 2. Ratification of an agent’s conduct that the principle didn’t authorise‚ 3. Implied agreement created by assumed agent authority to enter into
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CORPORATE GOVERNANCE AND BUSINESS ETHICS ASSIGNMENT TOPIC: Principals (shareholders) – agent (managers) problem represents the conflict of interest between management and owners. For example‚ if shareholders cannot effectively monitor the managers’ behaviour‚ then managers may be tempted to use the firm’s assets for their own ends‚ all at the expenses of shareholders. Discuss the pros and cons of this statement with regard to duties of Board of Directors. Most organisations these
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Principal –agent conflict arise because managers & shareholders view the role of the corporation differently. Investors see corporation as investment vehicles. Shareholders want corporate managers to work diligently and efficiently towards the simple goal of maximizing the value of their ownership stake. However‚ the relationship between the managers of a corporation and its owners is complex. The principle of self-interested behavior tells that people‚ including managers and stockholders‚ work
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Freight Forwarders can act as either a Principal or Agent. Describe in your own words the differences between each. Under what circumstances might a Freight Forwarder want to act as either a Principal or Agent? When Freight Forwarders act as principal‚ they assume all responsibility and liability for the pick-up‚ handling‚ transporting and delivery of the shipment as a regular common carrier would. Their name is on the BOL. When a Freight Forwarder acts as an agent‚ their liability ends once they
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Recently retired Assistant Principal from New York City Department of Education. She holds permanent certification in School District Administration‚ School Administration and Supervision‚ Principal of Elementary Day School‚ Principal of Alternative High School‚ Principal of Deaf and Hearing Handicapped‚ Assistant Principal of Special Education‚ Elementary/Middle School Assistant Principal‚ Assistant Principal Day School‚ Director of Special Education Schools‚ Speech Supervisor‚ Senior Education
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Running head: ETHICAL PRINCIPALS CASE Ethical Principals Case Study Shawn R. Holy Grand Canyon University HLT 305 May 2‚ 2010 Ethical Principals Case Study You are presented with a 52-year-old female patient. She is experiencing acute discomfort from gall stone symptoms for the fourth time in 8 years. The condition has responded to non-surgical treatment in the past‚ but each subsequent time is a slower and more painful recovery. She is underinsured and the cost of a surgery would be
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* Organizational structure + Principal*-Agent problem Principal-Agent Problem There is separation between ownership & control in most of the firm that we see today. As owners‚ shareholders appoint managers to make decisions for the company. There is another term to describe relationship between them. Shareholders are the PRINCIPAL that appoints the manager (AGENT) to act on the shareholders’ behalf so that profit can be maximize. E.g. Patient-Doctor Managers-Employees
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M/601/1699 CT232 Understand how to support positive outcomes for children and young people You have been asked to give a two short talks‚ one to parents and one to students about to start working with children‚ both talks concern understanding how to support positive outcomes. You must produce two leaflets or posters to give out at each talk which the parents or students can then display as reminders. The leaflet/poster must be supported either by a talk given to the assessor and recorded
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near the suburbs of Parkway around the time of 3’o clock. Tibbolt was walking home from school during the time of the disappearance. A dead body search party was sent to find Tevon. According to FBI Agents Faraday and Wallace‚ one suspect named Maddie Fynn has raised curiosity among these FBI Agents. Agent Faraday during an FBI conference meeting highlighted‚ “Her neighbors believed that the girl was a bit of a mystery. However‚ based on the victim’s mother’s testimony‚ Maddie Fynn has turned into a
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