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Assignment on Legal Studies

   

Added on  2020-02-24

8 Pages1619 Words236 Views
Running head: LEGAL STUDIESLaw of ContractName of the student:Name of the university:Author note

1LEGAL STTUDIESAnswer to Question 1(a)The present case is based on the doctrine of agent-principal relationship1. It is a kindof an agreement made between principal and the agent. In this process, agent is appointed bythe principal to act on his behalf. In the relationship, the maxim Qui Facit Per Alium, FacitPer Se is applicable. The meaning of the maxim is that the duty of the agent is to act for theinterest of the principal2. The law of agency has been discussed under section 194 of theIndian Contract Act 1874. It is a kind of contract. The purpose of the relationship is to makelegal transaction by the agent to avoid the conflict of interest3. There are certain responsibilities exist in this relation. It is the duty of the agent toprioritise the principal’s will as in this relationship; the principal is holding fiduciary post. Inthis present case, Vera told Siddo not to sell the painting less than $40,000. However, Siddosold it out for $20,000. Therefore, Siddo had breached the contract and will be held liable forthat.(b) According to section 194 of the Contract Act, the principal appoints an agent. In thelegal system of India, the relationship between the principal and agent is contractual innature4. The agents are acting on behalf of the principal. The competency regarding the1McKendrick, Ewan.Contract law: text, cases, and materials. Oxford University Press (UK), 20142Ayres, Ian, and Alan Schwartz. "The no-reading problem in consumer contract law."Stan. L. Rev.66 (2014): 5453Swaminathan, Shivprasad JGLS. "Eclipsed by orthodoxy: the vanishing point of consideration and the forgotten ingenuityof the Indian contract act 1872." (2017).4Roy, Tirthankar, and Anand V. Swamy.Law and the Economy in Colonial India. University of Chicago Press, 2016.

2LEGAL STTUDIESagency has been described under section 184 of the Contract Act. It has been stated that aminor has also the capacity to become an agent5. Under the Contract Act, certain provisions have been mentioned regarding the dutiesof the agent. An agent is required to execute the mandates properly and should have to abideby the instructions of the principals6. An agent has to give the will of the principal on priorityand taken possible steps to avoid any conflicts of interest7. In this case, it has been observedthat Siddo bought the picture for himself and later sold the same to the other person.Therefore, a conflict of interest arose regarding the picture. Thus, it can be stated that Siddohas breached the duty of an agent8.(c)The principle of the law of agency is based on the mutual agreement between theprincipal and agent9. The objective of the relation is to appoint someone who can act onbehalf of the principal and complete certain work. A fiduciary relationship has been observedin this relation. It is the utmost duty of the agent to work for the interest of the principal10. Asthe agent does the work on behalf of the principal, he has certain chances to make secret5Rankin, George Claus.Background to Indian law. Cambridge University Press, 2016.6Chen-Wishart, Mindy, Alexander Loke, and Burton Ong, eds.Studies in the Contract Laws of Asia: Remedies for Breachof Contract. Oxford University Press, 2016.7Andrews, Neil.Contract law. Cambridge University Press, 2015.8Jain, Sankalp. "Contracts of Sale: Terms, Conditions and Warranties with Special Reference to Sale of Goods Act, 1930."(2015).9Jain, Sankalp. "Types of Contracts: General and Specific Contracts." (2015).10Knapp, Charles L., Nathan M. Crystal, and Harry G. Prince.Problems in Contract Law: cases and materials. WoltersKluwer Law & Business, 2016.

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