1. A contract of agency can be expressed or implied from certain circumstances and conduct of the parties. State the ways in which an agency may arise and explain all of them.
1. A contract of agency can be expressed or implied from certain circumstances and conduct of the parties. State the ways in which an agency may arise and explain all of them.
Agency can created in many ways:
(a)By express appointment by the principal (actual express authority)
(b)By implied appointment by the principal (actual implied authority)
(c)By the agent occupying a position which would normally carry with it authority to do an act of the kind in question (usual authority)
(d)By the principal adopting the act of an agent via the process of ratification when the agent acted without the authority of the principal (agency by ratification)
(f)By estoppel
2. Who is an agent?
An agent is a person male or female has been employed by a principal to act for him or represent him in dealings with other. He is required to act interest of the principal.
The agent must follow an act in:
a) A person who is 18 years old.
b) He has a sound mind.
c) He must be a reliable person.
d) He has reasonable skill and responsibility.
e) He can keep matters confidential.
f) He can be obedient to the principal
g) He can be loyal to the principal
3. What are the duties of an agent?
Duties of an agent are:
(a)He cannot delegate his authority.
(b)His personal interest must not be in conflict with that of the principal.
(c)It is a relationship based on trust and confidence.
(d)He cannot have any secret dealings or make secret profit.
(e)He must obey the instruction of the principal. (s.164)
4. What is the doctrine of estoppel? Give an illustration of estoppel.
The doctrine of estoppel is meaning the principal representing to the third party that the agent had authority to do the act in question when fact there was no underlying grant of authority for agent so to act.(agency by presentation)
Example: If A tells the B in the presence of C that he is the agent of C and C does not contradict this statement. Later if B sell the goods to A and
Agency can created in many ways:
(a)By express appointment by the principal (actual express authority)
(b)By implied appointment by the principal (actual implied authority)
(c)By the agent occupying a position which would normally carry with it authority to do an act of the kind in question (usual authority)
(d)By the principal adopting the act of an agent via the process of ratification when the agent acted without the authority of the principal (agency by ratification)
(f)By estoppel
2. Who is an agent?
An agent is a person male or female has been employed by a principal to act for him or represent him in dealings with other. He is required to act interest of the principal.
The agent must follow an act in:
a) A person who is 18 years old.
b) He has a sound mind.
c) He must be a reliable person.
d) He has reasonable skill and responsibility.
e) He can keep matters confidential.
f) He can be obedient to the principal
g) He can be loyal to the principal
3. What are the duties of an agent?
Duties of an agent are:
(a)He cannot delegate his authority.
(b)His personal interest must not be in conflict with that of the principal.
(c)It is a relationship based on trust and confidence.
(d)He cannot have any secret dealings or make secret profit.
(e)He must obey the instruction of the principal. (s.164)
4. What is the doctrine of estoppel? Give an illustration of estoppel.
The doctrine of estoppel is meaning the principal representing to the third party that the agent had authority to do the act in question when fact there was no underlying grant of authority for agent so to act.(agency by presentation)
Example: If A tells the B in the presence of C that he is the agent of C and C does not contradict this statement. Later if B sell the goods to A and