This report provides a comprehensive analysis of contract law, focusing on the principles of agency and partnership within a legal context. It examines the creation of agency relationships, the roles and responsibilities of agents and principals, and the different types of authority, including actual and ostensible authority. The report delves into the fiduciary duties agents owe to their principals, such as loyalty, following instructions, acting skillfully, informing, and accounting. Furthermore, it explores the application of these principles under the Partnership Act 1963 (Cth), highlighting how partners act as agents for each other and the implications of their actions on the firm. The report analyzes a case study involving a law firm, LLA, and its obligations, providing a practical application of the legal concepts discussed.
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