UNIT 6 6.0 AGENCY 6.1 AN AGENT An agent is one who acts on behalf of another called the principal‚ with the express or implied authority of that person. Hence an agent incurs neither rights nor liabilities on contracts made on behalf of the principal. Also an agent need not be of full contractual capacity meaning that even a minor could be appointed as such‚ even though he principal has to be of full contractual capacity. 6.2 TYPES OF AGENTS Universal: appointed to handle the
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Introduction of Agency Theory The specific definition of the theory based on the sources investorword.com and investopedia.com defined that the agency theory is a theory explaining the relationship between principals such as shareholders and agents. It is essentially involves the cost and way of resolving the conflicts between the principals and agents and change the something slightly to the correct position and decision related to the two group of conflict. Thus‚ the main objective of agency theory is
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Advertising * A public notice meant (a) to convey information (b) invite patronage or some other response. Inform and persuade ("stimulate demand"). From a marketing context‚ advertising could be defined as "a paid form of nonpersonal communication about an organization and/or its products that is transmitted to a target audience through a mass medium." Therefore one kind of promotional activity‚ separate from publicity (free)‚ sales promotion (not forms of communication)‚ and personal selling
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CONCEPT OF AGENCY Part A INTRODUCTION The legal concept of agency plays an essential role under commercial transactions. This essay will first explain the definition of agency and methods of creating agency relationship‚ then the benefits and drawbacks of agency will be illustrated. Finally‚ there are two examples presenting formal and informal agency relationship. THE LEGAL CONCEPT OF AGENCY An agency refers to a legal relationship between agent and principal. A broad concept of agency is a
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May 26‚ 2015 Advertising Regulations In the article that I read it was talking about the federal trade commission and how they are enforcing the truth in advertising laws. The FTC is forcing everyone that advertises on the internet‚ radio‚ billboards‚ etc‚ they have to make sure that it is legitimate and truthful. They cannot advertise anything that is untrue or unfair that would involve ripping consumers off of their hard earned money. Advertising plays an essential and big
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CYP36 1.1- Multi-agency working aims to support children and young people earlier to ensure they meet the five Every Child Matters (ECM) outcomes. The five outcomes of ECM state that we need to be working together to achieve the best possible outcomes for children in our setting. These outcomes are: • Be healthy • Stay safe • Enjoy and achieve • Make a positive contribution • Achieve economic well being Multi-agency working brings together practitioners from different sectors and
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Agency problem and its solutions Introduction Principal-agent relationship occurs when a principal contracts an agent. The principal hires the agent to perform a service for him or to act on his behalf. For example‚ in a large corporation‚ shareholders would hire managers to help them to organize the company in dairy business. However‚ agency problems may arise because of the conflict interest and asymmetry information between principals and agents‚ which lead to agency costs. In this essay‚
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One needs to consider several things before finding the perfect good adoption agency. The agency one selects will basically depend on the type of adoption that one is pursuing. This could refer to whether it is a domestic or international adoption‚ for instance. The entire family as a whole needs to sit together and discuss on details specific to a family’s adoption plan. You can find out more about an agency from their referrals. Therefore it is better to ask for referrals who can give you valuable
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There are many types of companies that carry false advertising in their products in order to increase commercial sales. In today’s world‚ we all want our money’s worth of what we are purchasing. In false advertising‚ we are being mislead and deceived in what we are really buying. Weight loss products often advertise that if you indeed take their product‚ you will lose the desired amount of weight. They show you pictures of people who have lost weight “using this product” and in addition to the
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The detective agency has been around in the United States since 1850 thanks to Allan Pinkerton. Eleven years later‚ Zebulon Brockway created the first parole system. The world’s finger classification system was used in 1892‚ by Juan Vucetich while working for the Central Police Department in La Plata‚ Argentina. He first used it to identify a bloody fingerprint from a double homicide of children. Then in 1908‚ Lola G. Baldwin was hired as the first woman police officer. Also in 1908‚ Charles Bonaparte
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