BSL165 - Foundations of Business Law
Added on 2019-10-31
8 Pages1768 Words190 Views
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2ContentsSolution 1.........................................................................................................................................3Issues............................................................................................................................................3Relevant Law...............................................................................................................................3Application of Law......................................................................................................................5Conclusion...................................................................................................................................6Solution 2.........................................................................................................................................6Issues............................................................................................................................................6Relevant Law...............................................................................................................................6Application of Law......................................................................................................................7Conclusion...................................................................................................................................8Bibliography....................................................................................................................................9
3Solution 1 IssuesWhether the contract entered by Ricardo with Will Land scooping on behalf of the CEO ofGabba Pty Ltd is binding upon the company?Relevant LawAn agency is the kind of relationship that is established between two parties. The first party iscalled a principal and the other party is called an agent. It is a kind of relationship wherein theagent is authorized to act on behalf of the principal with an outsider and any acts that areundertaken by an agent is binding upon the principal. There is no presence of any contractualrelationship, the only requirements is the presence of authority on the part of the agent which isdelegated upon him by his principal.1The relationship of an agency amid the principal and the agent can be established in fourdifferent manners. That is either expressly or by estoppel or by ratification or by operation oflaw. 2Once an agency is established amid the principal and the agent, then, the principal isbound by all the actions of an agent. 3Considering all the above factors, the authority of an agent can be categorised as:i.Actual Authority – Actual authority are of two kinds:4a.Express authority – An express authority is an authority directly delegated to anagent. In order to create an express authority it is necessary that the principal musteither by agreement, words or deed grant an authority to the agent and is called anexpress actual authority5. 1 Gino Evan Dal Pont, Law of Agency (LexisNexis Butterworths, 2008).2 The Law Teacher, Contracts made by Agents (2017) < https://www.lawteacher.net/free-law-essays/contract-law/contract-made-by-agents.php>.3 Cliver Turner, John Trone, Roger Gamble, ‘Concise Australian Commercial law’ Thomas Reuters, 4th Edition. 4Roman Tomasic, Stephen Bottomley and Rob McQueen, Corporations Law in Australia (Federation Press, 2002).5Hely-Hutchinson vBrayhead Ltd [1967]; Freeman and Lockyer v Buckhurst Park Properties(Mangal) Ltd[1964] 2 QB 480.
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