Party dealing with him without notice of the restriction is still entitled to rely on his apparent authority. The difficult case is where A‚ in concluding a transaction that would be within his usual authority as agent‚ contracts in his own name without disclosing the existence of a principal‚ so that the third party assumes he is dealing with a principal. In Watteau v. Fenwick & Co35 the doctrine of usual authority was held applicable to such a case also. H owned a hotel. He sold it to the defendants
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is impossible to get the principal’s instructions. 2. The agent’s action is necessary to prevent loss to the principal. This happen when the principal put the agent to be in change if the goods. 3. The agent had acted in a good faith. 5) Agency by Estoppel Sec 190 : 1. It happen when the principal allows a third party to believe that a person is the agent
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Common law and equity: the reasons behind the creation of equity. What is it and how is it different from common law? What is the present relationship between common law and equity? Methodology In order to provide a broader image of the principles applied by equity and the common law‚ secondary research was carried out. The process involved both gathering information from the internet websites and Business Law textbooks. Findings The development of English
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default of the third party. Generally the function of an agent is ever after a contract is established. He is not answerable to his principal for the failure of the third party person to perform the contract. A Del Credere agent constitutes an exception to his rule. He is a mercantile agent‚ who‚ on the payment of some extra commission known as Del Credere commission‚ guarantees the performance of the contact by the third person‚ for instance‚ facts to pay for the goods supplied to him‚ the principal
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CH. 3: BUSINESS ORGANIZATIONS: PARTNERSHIPS (GPPs‚ LLPs AND LPs) Overview: Three kinds of partnerships: General partnership (“GPP”) Limited liability partnership (“LLP”) Limited partnership (“LP”) General Partnerships (“GPP”): (1) Description Two or more legal entities (individuals‚ corporations) owning and operating a business together for profit (2) Formation a) Requirements: Partnerships Act (“PAct”) says GPP arises automatically if 4 requirements met: (i) 2
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Contents QUESTION -1 3 The Doctrine of Privity 3 The meaning‚ history and evolution of the doctrine 3 Relationship between privity and consideration 4 Privity under different laws 5 PRIVITY AND THE LAW OF AGENCY 5 Privity and Agency by Estoppels or Holding out 6 Privity when Sub-agents or Substitute agents are appointed 6 PRIVITY AND THE LAW OF PARTNERSHIP 7 Privity and the act of civil and criminal liability of partners 8 Privity and the liability for holding out 8 PRIVITY AND THE
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[Note: Numbers in brackets refer to the printed pages of Understanding Property Law by John G. Sprankling where the topic is discussed.] LexisNexis Capsule Summary Property Law PART I: INTRODUCTION Chapter 1 WHAT IS PROPERTY? § 1.01 An “Unanswerable” Question? [1-2] The term property is extraordinarily difficult to define. The ordinary person defines property as things that are owned by people. However‚ the law defines property as rights among people that concern things. § 1.02 Property
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2105AFE – INTRODUCTION TO BUSINESS LAW – Semester 1 2013 LECTURE PLAN Students should complete the readings each week prior to the lecture. Reading references are to the customised text (Gibson‚ A.‚ & Fraser‚ D.‚ Introduction to Business Law Custom Book 5/E (2012) - (ISBN: 9781486010875). | | |Readings | |Week |Topic
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whom Defendants have no control of‚ and whose conduct cannot be imputed to the Defendants. 4. Defendants allege that any damages sustained by Plaintiff are as a result of its failure to mitigate damages. 5. Plaintiff’s claims fail on the grounds of estoppel‚ unclean hands‚ license‚ statute of limitations and waiver. 6. Defendants reserve the right to assert additional affirmative defenses that arise from discovery of information in this action. 7. Defendants reallege their Answers and Affirmative Defenses
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Bus Fin 3500 Review for Midterm The exam is multiple-choice. Many of the questions are conceptual in nature‚ so although you will have to understand the principles presented‚ in many instances you will also have to apply those principles. If English is your second language‚ you may bring a dictionary with you. (book form‚ not electronic) The dictionary can either be an English dictionary or a dictionary between English and your first language. There will be 25 questions on the exam.
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