TOPIC THREE: LAW OF AGENCY * Nature and Creation of an Agent * Duties of an Agent to his Principal * Duties of a Principal to his Agent * Termination of Agency Contract NATURE OF AGENCY What is an agency? Section 135 of Contract Act 1950: “Agency is the relationship which subsists between the principal and the agent who has been authorized to act for him or represent him in dealings with others.” There are two types of agency contracts:- 1. Contract between principal & agent
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How can the structure-agency debate help us to understand the attitudes towards police work and the actions of Captain Louis De Koster as a police officer? The structure-agency debate is a debate that asks one “to what extent are we shaped by social structure and to what extent do we exercise agency to determine our own biography?”. I am going to use this debate to understand the attitude and actions of Captain Louis De Koster as a police officer. Structure is the complex framework of social
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AGENCY RELATIONSHIP An agency is a relationship which exists when one party called the principle appoints and authorizes another called the agent to enter into a contract with a third party ‚ which contract is legally binding to both parties. An agent is therefore a party who is authorized to represent or act on behalf of another for the purpose of bringing that other party into legal relations with a third party. A Principal is a party who authorizes another party to represent or act on his
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AGENCY PROBLEM OF KFC SUBMITTED TO: BINDU KHANAL (FACULTY‚ APEX MBA) SUBMITTED BY: ASHMITA LAMICHHANE NAMRATA MAINALI SMRITI GAUTAM (PARYA) Introduction to agency problem Agency Problem is an economic‚ political‚ legal and corporate governance concept that aims to explain the difficulties in motivating one party (the agent) to act in the best interests of another party (the principal) instead of in his own interest. A conflict of interest inherent in any relationship
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The Supremes: Wendy Banjo Latangela Kendrick Chansidy Mathis Stacy Williams February 16‚ 2012 Summarization of Article: Angel Agents: Agency Theory Reconsidered Financial Management/Cohort BB320 Shorter University Dr. Gerald Sullivan AGENCY THEORY “Angel Agents: Agency Theory Reconsidered” is an article that explores the relationship between agents and company owners. The article opens by stating the premise that company executives‚ who fail to operate under the every
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creatures. A wizard‚ Syris Gregamore didn’t agree with the madness that had spread and did something about it. He founded the Gregamore agency. He assembled the most ruthless yet determined members of supernatural creatures and ones with supernatual abilities who had the same opinion as him. And from that day‚ a union was born. The Gregamore Agency. Little by little the agency has changed the world for the better. Now in the twenty-first century‚ everyone knows of them and their legacies‚ heck‚ they have
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Agency Costs of Free Cash Flow‚ Corporate Finance‚ and Takeovers Michael C. Jensen Harvard Business School MJensen@hbs.edu Abstract The interests and incentives of managers and shareholders conflict over such issues as the optimal size of the firm and the payment of cash to shareholders. These conflicts are especially severe in firms with large free cash flows—more cash than profitable investment opportunities. The theory developed here explains 1) the benefits of debt in reducing agency
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Running head: THE NATURE OF AGENCY The Nature of Agenc The Nature of Agency A contract agreement is essential when two or more parties decide to do business. Even though verbal contracts is considered legal‚ companies or individuals involved in the contract negotiations takes the risk of only hearing what they want to hear. According to the video‚ The Nature of Agency (Cheeseman‚ 2010)‚ the question was asked by a partner of Quick Takes Video‚ how can an employee sign a binding contract
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visa applications and other foreign travel requirements. High Speed Travel and Tour can position itself as a niche service provider within the travel and tourism market and offer high quality travel packages for various travel. And our travel agency will give well- informed‚ appropriate advice to clients about where and when to travel based on their needs. III. Target Market: We targets both local and international tourist‚ business travelers‚ leisure travelers‚ backpackers‚ expedition
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LAW OF AGENCY The law relating to agency in Kenya is contained in the Factors Act 1889 and the common law as modified by the doctrines of equity. Agency may be defined as a legal relationship that exists between a person called the agent is considered by law to represent another known as the principal in such a way as to affect the principal’s legal position in relation to 3rd parties. It has also been defined as a relationship where a party expressly or implied consents that the other should
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