QUESTION: Explain what agency of necessity is and how it may arise. AUTHOR: KATALILO JOY INTRODUCTION This paper will explain what agency of necessity is and how this agency arises. Agency is the work done by an agent. An agent is a person that has a contractual obligation with a principal to bind the principal to a third party without the agent being party to the contract. The contract then becomes one between the principal and the third party. In lay terms‚ imagine parties A‚ B and
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Breach of Contract and Remedies available to Suppliers and Consumers Statutory protection given to a consumer in their dealings with a business and the remedies available (D2) Introduction For the injured party within a breached contract to claim for remedies whether it was agreed on at the time of writing the contract or an decided at a later time‚ both the injured party and the other party (e.g. a business and a customer) will have to go to court to decide what kind of remedy will occur to the
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the clock. In two lawsuits filed in Michigan against the giant fast food chain McDonalds and two Detroit franchise owners‚ employees said that their restaurants gave orders to show up early to work‚ commanded them to wait an hour or two to start working‚ without being paid‚ until the restaurant got busy with customers. A McDonald’s employee in Detroit‚ Sharnell Grandberry said‚ “Our wages are already at rock bottom. It is time for McDonald’s to stop skirting the law to pad profits. We need to get
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opponents. Finally‚ outside stakeholders are those individuals that are not engaged in the organisation but are interested in the way that it is run such as the government‚ team & stress categories. British Petroleum PLC has lots of stakeholders which are; investors‚ administrators and professionals‚ workers‚ providers‚ clients‚ team‚ government‚ business labour unions & stress categories. All of these stakeholders impact BP differently and have different amounts of energy within the company. The internal
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Childcare also known as a daycare are programs that provide supervision among children and their everyday needs. Daycare programs are administered by licensed adults during the day‚ while the legal guardians or parents work on a regular basis. Step Ahead Learning Center‚ is a school that serves children from ages three months up to five years old. I choose this particular program to study because working at Renaissance Club Sport as a Kid’s Club Attendant; I have met families that have their children
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Q UNIT 4 D2: Evaluate the effectiveness of business information and its communication as key contributors to the success of the organisation‚ using examples to illustrate your points. Information and the effectiveness of communication are key to the success (or the survival) of a business. For example‚ the BP oil spill in the Gulf of Mexico in 2010 continues to have serious implications for the business. Introduction Over the last 129 years M&S has grown from a single market stall to become
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The world has changed greatly over the years. The language has evolved and culture has changed. Due to the large increase in the number of people who use mobile phones and social networking sites‚ people‚ especially young ones developed a new‚ non-standard form of English which we have called text speak. There are some good things and a few bad things about it. I will explain it further now. To keep things simple‚ text-speak is a non-standard form of English and although it seems as if it did not
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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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Agency Theory Description Agency theory describes the relationship between principals (shareholders‚ investors and owners) and agents (management). Theoretical discussions in business and academia may be a modern phenomena‚ however the dynamics surrounding agency relationships have been around since the dawn of barter and exchange. Most business relationships are fundamentally agency relationships. In simplistic terms principals have interests and goals to which they have transferred the
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Table of Contents EXECUTIVE SUMMARY 1 DESCRIPTION OF THE COMPANY 1 MISSION STATEMENT 1 PRODUCTS AND SERVICES 1 FINANCIAL FORECAST 2 FINANCING REQUIREMENTS 2 HISTORY AND POSITION TO DATE 4 THE COMPANY’S MISSION 4 MANAGEMENT TEAM AND KEY PERSONNEL 4 SERVICES 6 TRANSPORTATION 7 COMPANY HISTORY 7 GUARANTEES AND WARRANTIES 8 BUSINESS STRUCTURE 8 MARKET RESEARCH 8 ECONOMIC AND SOCIAL FACTORS 9 COMPETITIVE ENVIRONMENT 9 LONG-TERM OPPORTUNITIES 9 GEOGRAPHIC AREA 10 MARKET DESCRIPTION
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