There are many laws in the world today that some may find are neither rational nor fair for all the parties involved in the situation. I have chosen two laws that I do not think are logical‚ these two are apparent authority and executory process. The first law I will be discussing is an agency this is the right one person has to execute business on behalf of another person or corporation. There are three important parties involved in an agency relationship; the agent (this is who can enter a contract
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Text Reader Agency and Employment Law Dr. Jay-D Olivier INHOLLAND UNIVERSITY Diemen‚ Haarlem‚ Rotterdam Course Year 2010-2011 Term 5 Internal publication INHOLLAND University of Professional Education International Business Management Dr. Jay-D Olivier (BA Law‚ MA‚ D. Law‚ Ph.D) Contents Agency Law 3 Principal’s Duties to the Agent 18 Liability
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2012 – OCTOBER SEMESTER 2012 STUDENT NAME: CHU THI HONG TUYEN ID No.: 2448481 BMLW5103 – BUSINESS LAW ASSIGNMENT Question 1 Discuss the enforceability of an agreement which lacks consideration. Using legal authorities (relevant statutes and cases) to support your discussion. Answer: A valid contract is an agreement made between two or more parties that creates rights and obligations that are enforced by law. What does the consideration mean? And what does it effect to the agreement? Consideration
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Case 1: In this case about 200 customers of Potter’s business were not notified of the termination of the agency and Aker who had been a sales agent for Potter for twenty years was also fired along with the termination of the company. Typically when there is a termination of an agency or a agency relationship the agent no longer represents the principal (Potter). However‚ if an agency is terminated the principal is under a duty of notification of the termination of the agency to the third parties
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Assignment Submission Form Module Name | Commercial and Company Law in Semester 2. | Name of Lecturer | Sheila McCarthy | | | Title of Assignment | Law CA Semester 2 -2013 | | | | | Campus | LIT Tipperary Thurles | Course | Bachelor Of Business Level 7 | Student ID(s) | P10011462 | Name of Student(s) | Martin G Lynch | Date | 13/03/13 | Word Count | 2004 | I declare that no element of this assignment has been plagiarised: Student Signature | | “An Agent is
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Business Law I January 31‚ 2013 Corporate Structure Assessments Part A: A sole proprietorship is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. The IRS does not consider the sole proprietorship as a separate business entity. The owner reports
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Importance of Business Law 1. To define Basic Setup of a business. Business law defines different types of business for setup‚ such as - Partnership‚ Proprietorship‚ Corporation (Private and Public)‚ etc. Such definitions of types of business help clarify ownership of the business entities. 2. To define Regulations for Business Operations. There needs to be certain rules and regulations to carry on various timely operations in any business regardless of the type of business. For industries
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USIU BUS 3010 BUSINESS LAW LAW AGENCY NOTES AGENCY LAW The law of agency in Kenya is basically that of the English Common Law. It deals with the relationships that arise when one person‚ the agent‚ is used by another‚ the principal‚ to perform certain tasks on his behalf. CREATION OF THE AGENCY RELATIONSHIP Agency may be created in four ways namely‚ i. By contract ii. By Ratification iii. By Estoppel iv. By operation of the law Agency by Contract This may either be by express contract
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Legal Issue A paper submitted in the course of Business Law BUS/415 University of Phoenix March 16‚ 2008 Introduction Agency Law in a Business Environment A principal is the party who employs another person to act on his or her behalf; an agent is a party who agrees to act on behalf of another. In order for the agent to successfully fulfill their tasks for their principal’s they have duties that they are expected to fulfill. The duty to obey instructions‚ to act with skill‚ loyalty‚
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Legal Underpinnings of Business Law OMM 670: Legal Environment February 25‚ 2013 Legal Underpinnings of Business Law Business | Type of Business | Liability Exposure | Compare | Contrast | Tinker’s Home Security Service | Sole proprietorship | Unlimited | Monetary rewards are from both the Proprietor & business | Sole Liability | Tinker & Tailor’s Home Security Service | General partnership | Unlimited | All partners are responsible whether silent or active | If you are
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