On October 23rd, 2014, we updated our
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The person for whom such act is done or who is so represented is called the principal. An agent may be appointed by the principal executing a written and stamped document. Such a document is called power of attorney.
Agent & Servant Differences………
Irin Sultana 036
Method of creating agency
Agency by express agreement Agency by Implied agreement A contact of agency may be created by expressed agreement. The agreement may be either oral or written. An agency agreement may be implied under certain circumstances from the conduct of the parties or the relationship between them
There are three possible cases of agency by estoppel: Agency by Implied agreement Agency by estoppel or by holding out a b c
Agency is created when the following conditions are fulfilled; Agency of necessity
Ratification means the subsequent adoption and acceptances of an act originally done without instruction or authority. Ratification may be expressed or implied. Agency by ratification
Salma Nasrin 057
Termination of Agency
Termination by act of parties
The ways are… Efflux of time Performance of the object Determination of subject-matter Death or insanity of the principal or agent Insolvency of the principal The principal becoming an alien enemy Termination of the sub-agent’s authority Termination by operation of law