Law of agency

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Law of agency

  1. 1. Welcome<br />
  2. 2. Presentation is prepared by <br />Mizanur Rahman <br />Abdullah all masum<br />Irin sultana<br />Salma Nasrin<br />
  3. 3. Dept. of Tourism and Hospitality Management <br />Faculty of Business Studies<br />University of Dhaka<br />
  4. 4. GYPSY<br />
  5. 5. Law of Agency <br />
  6. 6. We will cover ….. <br />1<br />2<br />3<br />4<br />5<br />6<br />7<br />
  7. 7. Agent<br />
  8. 8. The person for whom such act is done or who is so represented is called the principal.<br />An agent may be appointed by the principal executing a written and stamped document. Such a document is called power of attorney. <br />
  9. 9.
  10. 10. Agent & Servant Differences………<br />
  11. 11.
  12. 12. Agent &BaileeDifferences…………<br />
  13. 13. Method of creating agency <br />
  14. 14. Agency by express agreement <br />Agency by Implied agreement <br />A contact of agency may be created by expressed agreement. The agreement may be either oral or written.<br />An agency agreement may be implied under certain circumstances from the conduct of the parties or the relationship between them<br />
  15. 15. There are three possible cases of agency by estoppel:<br />Agency by Implied agreement <br />Agency by estoppel or by holding out<br />a<br />b<br />c<br />
  16. 16. Agency is created when the following conditions are fulfilled;<br />Agency of necessity <br />
  17. 17. Ratification means the subsequent adoption and acceptances of an act originally done without instruction or authority.<br />Ratification may be expressed or implied.<br />Agency by ratification <br />
  18. 18. Termination of Agency<br />
  19. 19.
  20. 20. Termination by act of parties <br />
  21. 21. The ways are…<br />Efflux of time <br />Performance of the object<br />Determination of subject-matter<br />Death or insanity of the principal or agent<br />Insolvency of the principal<br />The principal becoming an alien enemy<br />Termination of the sub-agent’s authority<br />Termination by operation of law<br />
  22. 22. Agent’s duties to principal<br />
  23. 23. The duties <br /><ul><li>Agents duty in conducting principals business
  24. 24. Skill and diligence required from agent
  25. 25. Agents duty to render accounts
  26. 26. Agents duty to communicate to principal
  27. 27. Agent not to deal on his own account
  28. 28. Principal to get benefit of agent’s dealings
  29. 29. Agents duty to pay sums received for
  30. 30. Principals
  31. 31. Principals death or insanity
  32. 32. Miscellaneous</li></li></ul><li>Principal’s duties to agent<br />
  33. 33.
  34. 34. Agents rights<br />
  35. 35. Agent’s Right <br />
  36. 36. Thanks <br />

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