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Common Law

What Is the Actual Authority of an Agent in Law?

The agents authority to do things may come from various sources. It may be formally and expressly given in instrument of appointment or it may be given orally. It may be implied by the conduct of the parties or it may be inferred from the nature of the employment of the agent. It may arise from necessity. It may come from a valid ratification by the principle after the event. These sources of the agents authority are only part of the story. Authority the agent may be classified in three ways as either actual, implied, or apparent or ostensible authority. Companies are principles of a nonphysical kind, and the position of third parties dealing with company agents and in particular the assumptions they are entitled to make in terms of reliance are dealt with in the corporations legislation.
The most common role of an agent is to make contract between principle and the third party based upon the actual appointment of an agent. The actual authority of an agent consists of powers actually given to it by the principle all powers implied in the agency itself. Powers which arise from necessity or by operation of law are also other sources of the authority of an agent.
The actual authority of an agent includes authority to make representations which are principle will be responsible, to receive representations from third parties on the half the principle, to make contracts on half the principle, to make payments were principle, to receive monies owing to principle and to give a receipt. In agent employed to find a purchaser does not have implied authority to receive the purchase money, to direct the purchase money be paid to a third party or any other authority in which it is sometimes thought that they have.…

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Attorney

What Are the Duties and Rights of an Agent in Law?

The agency relationship between an agent in the principle is based on a contract between them and it is a fiduciary relationship. The duties of an agent to principle are to follow the principles instructions, to use reasonable diligence care and skill, to act in person, to act in the principles interests and not to disclose confidential information. The final element of the duty is to keep the principles money separate, to keep accounts and be ready to account for those monies were required. If an agent agrees to make a contract principle and is not make the contract they agreed, there is a breach of the contract between the principle and the agent and the agent may be liable in damages to principle.
Perhaps the most important and controversial area in relations to the agents duties is their duty to use due care, skill and diligence. An agent is under a duty to carry out its agency with these characteristics which arises from an implied term of the principle and agent contract. Also, the ever evolving law of negligence has a bearing on the situation and the warranties of due care and skill and fitness for purpose in relation to the supply of services implied by the trade practices legislation in Australia and unfair trading equivalence in the state jurisdictions in Australia. The standard expected of what is reasonable for an agent is defined in terms of a reasonable effort in the case of free services and means a professional standard of paid services. The agent may be legally liable Freni failings, shortcomings or mistakes. An agent will not be liable in negligence if they have verify the correctness of information or advice or if the agent is checked information with the principle. In agent it is not have the relevant information should disclose this fact to the principle and may avoid liability by honestly explaining limits of their knowledge. If you are in any way involved in a principle agency relationship in your business, it is certainly important to understand this principles of law so that you can apply them to your business relationships.…