chapter 4 law of agency PDF

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Added on 2022-01-22

chapter 4 law of agency PDF

Added on 2022-01-22

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Chapter 4
LAW OF
AGENCY

What you will learn?
 4.1 Ascertain nature of agency
 4.1.1 Define law of agency
 a. principal
 b. agent
 4.1.2 Explain formation of agency by way of:
 a. express appointment
 b. implied appointment
 c. ratification
 d. necessity
 e. estoppel
 4.2 Discuss types of agency
 4.2.1 Interpret types of agency by function
 a. broker
 b. factor
 c. commission agent
 d. del credere
 e. powers of attorney
 4.2.2 Interpret types of agency by authority
 a. actual
 b. apparent
 4.3 Demonstrate the relationship between
principals and agents
 4.3.1 Apply rights and duties of an agent
toward his principal
 4.3.2 Apply rights and duties of a
principal toward his agent
 4.4 Outline termination of agency
 4.4.1 Explain termination of agency
 Reference: Contract Act 1950
 Assessments: Quiz 2 & End Of
Chapter

DEFINITION
 Agency – the relationship which subsists between the
principal and agent who has been authorized to act
for him or represent him in dealings with others -
s135
 Agent – a person employed to do any act for another
or to represent another in dealings with third persons
 Principal - The person for whom such act is done, or
who is so represented

CREATION OF AGENCY
Creation
agency
Express
appointment
Implied
appointment
Words Conduct
Relationship
between
husband and
wife
Partnership
Ratification –
s149 Estoppel Necessity –
s142

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