elaborate upon the duties that a principal owes to an agent. Answer: An agency is the creation of a contract entered into by mutual consent between a principal and an agent. By agency‚ a principal grants authority to an agent to act on behalf of and under the control of the principal. A principal owes certain contractual duties to his/her agent by an agent will serve the principal loyally and with obedient. The principal duties can be found in section 172
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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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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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following proposition in the context of the professional sporting clubs in this case (you may choose to focus upon only the Essendon Football Club): ‘Principal-Agent problems are caused by insufficient oversight by company directors.’ Corporate Governance is a complex field that started to develop very quickly this last decade. The collapse of international firms‚ the financial crisis‚ the international scandals‚ the pressure from the governments and non-profit organizations… are all participating factors
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There is a great deal of evidence to support that evolution did indeed happen. Evolution is the changes in a population over time‚ it’s explained through descent with modification and natural selection. The findings from earlier thinkers all back this evidence up. Charles Darwin used evidence he found from research and studying the work of other scientists who studied fossils to support his claim that modern organisms are the descendants of ancestral species that were different from those of today
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CORPORATE ENVIROMENT PROJECT REPORT ON WHICH FIRMS ARE IMPORTANT TO A SOCIETY AND ITS ECONOMY? LARGE FIRMS OR SMALL FIRMS. WORD COUNT: 2602. BY STUDENT ID: 094005 STUDENT ID: 094011 STUDENT ID: 094057 STUDENT ID: 094031 INDEX 1. INTRODUCTION (3) 1.1. COMPARISON BETWEEN THE SMALL FIRMS AND THE LARGE FIRMS (3). 2. SMALL FIRMS OVER THE LARGE FIRMS (4). 2.1 ADVANTAGE OF THE SMALL FIRMS (5). 2.2 SMALL FIRMS ACT AS A BACKBONE EXAMPLE (6). 3. CONCLUSION (7)
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advantages and disadvantages that large firms have over smaller firms and vice-versa‚ in the pursuit of entrepreneurial activity. As an enterprise can be defined as private business‚ it can thus be separated into two main categories which are small firms and large firms. Within many countries and many industries there are normally a large number of small firms and a smaller number of large firms as can be seen in the United Kingdom where there are only a few thousand large firms and over 4 500 000 small
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why did you choose the members you did? Why did you put each one in the role you chose? Lead Agent: Sam Type your reason for choosing your Lead Agent here... I chose sam‚ because he has a lot of experience with leading teams‚ and been in charge of several assignments that were successful. He has had lots of years in the lead role‚ and has been very successful with the assignments he has been given . Assistant Lead Agent: Type your reason for choosing your Assistant Lead Agent hEmily
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Spaniards were born in Spain. It did not take long for these two groups of people to separate into casts. As ideas of the Enlightenment swept into the nation‚ ideas of inalienable rights and equality came into the mind of the Creole Elites. Though there were other causes of revolution in the area‚ this class rift played part in frustrating the members of the Creole Elite towards action‚ for example‚ Simon Bolivar. It created a foundation of tension that helped lead people like Bolivar to liberate
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(Sec. 211): The first duty of every agent is to act within the scope of the authority conferred upon him and perform the agency work according to the directions given by the principal. When the agent acts otherwise‚ if any loss be sustained‚ he must make it good to the principal‚ and if any profit accrues‚ he must account for it. Illustrations: (a) Where the principal instructed the agent to warehouse the goods at a particular place and the agent warehoused them at a different warehouse
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