Business Law Tutorial 11 1. [ Refer notes - creation of agency ] 2. [ Refer notes - Duties of Agent to Principal ] 3. [ Refer notes - Duties of Principal to his Agent ] 4. 4 remedies available: Principal may repudiate the contract - Section 168 Contracts Act‚ 1950 Principal may recover the bribe from agent - Section 169 Contracts Act‚ 1950 Principal may refuse to pay commission to Agent Principal may dismiss agent for breach of duty 5. [ Refer notes - Termination
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Commercial Law Agency An agent is determined by law. Determined by the legal implications of what the person does. Must be acting for a principal cannot stand alone. (a)Agent has the legal authority to bind or incur liability for which the principal can be responsible. The primary role of an agent is to negotiate or conclude contracts on behalf of a principal. Actions are treated like that of the principal. Consent can be determined by the Court. (b)Agent is a person who is recognized by law as having
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Man Made Disaster The affects of over population on natural environment are vivid. As of November‚ 2008‚ the world’s population is estimated to be about 6.7 billion. It is expected to reach nearly nine billion by the year 2042. This issue of increasing population should be at the forefront of our attention. The rising population has resulted in high fuel consumption and reduction of natural resources. Due to such major growth in population‚ human needs also grow‚ in time; there will not be enough
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Man-made disasters are disasters is the element of human intent‚ negligence or involving a failure of a man-made system that leads to human suffering and environmental damage. Man-made disasters are sometimes referred to as anthropogenic. The term anthropogenic designates an effect or object resulting from human activity. Man-made disasters can be divided into different categories and they include technological hazards‚ sociological hazards and transportation hazards among others. These are
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Ethical Challenges and Agency Issues Analyzing ethical challenges Most people are aware of the ethical challenges businesses face in today’s world especially‚ in the financial services industry. Financial services became a major target after several scandals such as Enron and MCI. Unfortunately‚ the financial industry is very large‚ which encompasses entities such as banks‚ insurance companies‚ mortgage lenders‚ pension‚ and securities funds. “The financial service sector represents 20 percent
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Budget Issues of Running Out of Money and Time When an agent finds out that they are going overbudget or over the allotted time limit the most critical element is open communication. With open communication it gives management more advance warning earlier in the budget cycle to make changes that can get the project back on track. The most important element management needs is ample time to make corrections to keep the project on budget and within time constraints. The more time management has
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differentiate it from the horde of other similar products. It entails knowledge of the industry‚ of the structure and the functions of the organizations involved in the process. Of late‚ there has been a change in the way advertisers communicate with the target market as they search for better ways to catch and hold the attention of the consumers. Integrated marketing communication process involves majorly five groups‚ the clients‚ the advertisers‚ advertising agency‚ media organization which is responsible
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Like federal agencies‚ the United States also has State and Local Law Enforcement Agencies. The local police are municipal‚ county‚ and city police officers whose purpose is to uphold the laws of their specific jurisdiction‚ provide patrol‚ and keep the community safe. State police patrol the highway and they conduct statewide investigations. We also have the county officers and they are people who runs the local jails and work the courtrooms. State and local law enforcement officers main goal is
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help police in other ways such as attending neighborhood watch meetings and learning more about how to protect their neighborhood and the citizens who live around them. Having trusting relationships between the public and police is very important so that the support have meaningful sharing information‚ responsiveness to community concerns and priorities‚ the reporting of suspicious activities that appropriately distinguish between innocent cultural behaviors and behavior that may legitimately reflect
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organization of police agencies in the United States is complex. While many know the overall breakdown between federal‚ state and local agencies; most people do not understand the organization of the separate agencies. Starting with the most basic breakdown of agencies and their roles and responsibilities in the Unites States‚ federal agencies are responsible for enforcing federal level laws‚ state agencies are responsible for primarily state specific laws‚ and local agencies add in local laws. Of course‚
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