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chapter 4 law of agency PDF

Added on - 22 Jan 2022

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Chapter 4
LAW OF

AGENCY
What you will learn?
4.1Ascertain nature of agency
4.1.1Define 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
4.2Discuss types of agency
4.2.1Interpret types of agency by function
a. broker
b. factor
c. commission agent
d. delcredere
e. powers of attorney
4.2.2Interpret 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
Agencythe relationship which subsists between the
principal and agent who has been authorized to act

for him or represent him in dealings with others
-
s135

Agenta 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
EstoppelNecessity
s142
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