Nevertheless, a distinction is usually drawn between the standard of care to be observed in each case. The amount of money is determined according to the extent and equivalent to damages caused by the violator In some exceptional cases, the violator can also be ordered by the court to pay for the punitive damages caused to the Agency law cases study party which can make the complete turnaround for the company impossible.
A classic agency relationship! Senbanjo 2 All NLR pg Many of the cases given are too recent to constitute what may be termed leading cases, nor has there been any attempt to include all that might properly be so designated. If he allows another person to order goods on his behalf and habitually pays for them, an agency may be implied.
A person who has no authority to act for the principal has acted as if he has the authority. In other words, the authority of an agent may be expressed given by words spoken or written or implied inferred from things spoken or written or from the ordinary course of dealings.
Authority that arises when a principal, by either words or actions, causes a third party to believe that an agent has authority to act, even though the agent has no express or implied authority to act with regard Agency law cases study the particular matter at hand.
Furthermore, bank employees are agents of the bank. There are other instances in which agency relationship is not by consent but by operation of law. Implied contract refers to the set of contracts where the parties agree to the obligations and show their intent to enter into a valid contract.
Such duties may arise from: Stone 1 QB pg In other words, due care. When both parties agree that the agency shall terminate, the agency is terminated.
While the lawsuit continues in the court, the violator has to provide time and money which affect the normal functioning and the business. The principal must at the time of ratification, have full knowledge of all material facts, unless it can be shown that he intended to ratify the contract whatever the facts may be and assume responsibility from them  The principal must ratify the whole act or contract The ratification must not injure the third party, i.
The principal sued him for non-performance. Section — Agent to be indemnified against consequences of acts done in good faith. An agent has the duty to act solely for the benefit of his or her principal, and not in the interest of the agent or a third party. When the principal or agent become insane v.
On the other hand, a trustee does not represent the beneficiary in the same way as the agent represents the principal. Unilateral contract refers to those legal agreements where only one party promises a performance or a service to another while the other only accepts the offer.
It was held that: When a customer hires a safe deposit box in which he keeps his valuables, the bank is the customers agent. An agent has the duty to follow all lawful and clearly stated instructions of the principal.
Some cases which might otherwise have appeared have been omitted because the substance of them has been sufficiently stated in the text or notes of the treatise. This is because a single person can act both as a servant and an agent while being an independent contractor.
Ob viously the most common form. It was held that the agent was not liable to the principal since he had exercised the same care and skill in respect of his property. The bank, as employer, is vicariously liable for the torts committed by its employees in the course of business.
The most common example is the insurance contract. Powell defined an agent as: The respondent company obtained judgement against the appellant and Yong. This often becomes important for various tax items, such as W-2 or income reporting.
On the other hand, a contractual agent must display or show the degree of skill which an agent in his position will usually display. As the volume is intended primarily for the use of students, for whom the making of their own abstracts is a most valuable exercise, the cases are printed without head notes.
Keighley agreed to take the wheat at that price but failed to take delivery.
This is because this idea of consent as the basis of agency relationship is contestable because there are circumstances in which the agency relationship exists without the consent of the parties or even against the wishes of either one of them or even both of them.
A noteworthy case in this regard is Bank of New Zealand v.In such cases the husband will be bound LAW OF AGENCY – Summary Notes OTHER NOTES Agency law—The large body of common law Agency law cases study governs agency; a mixture of contract law and tort law.
Agent—The. Law of Agency 1. LAW of Agency 2. LEARNING OUTCOME At the end of this chapter, students will be able to: Explain how an agency relationship is created. Explain the authority of an agent. Explain the agent’s duty to the principal.
Explain the agent’s right against the principal. Explain the liabilities of principals and agents to third parties. Describe the termination of agency. Case Studies Client Confidentiality / Agency Law and Ethics Quiz Please purchase the course before taking this quiz. Section 2 Exam – Agency Law and Ethics.
Agency Relationships / Agency Law and Ethics Dual Agency / Agency Law and Ethics Quiz Agency Relationships / Agency Law and Ethics Quiz. Scroll to top. · Agency by Operation of Law: Agencies recognized by courts -- e.g., family relationships, emergency situations -- in the absence of any formal agreement, confirmation, or act or omission by the principal that implied the agent's authority.
Contract law is one of the major branches of legal studies. Students pursuing legal studies need to know the various aspects associated with contract law in which they are supposed to prepare an assignment on a contract law case study.
However, before they embark on this mission to prepare their. A Case Study of Criminal Law Student’s Name College A Case Study of Criminal Law Criminal laws relate to the rules and regulations for handling criminal acts like social conducts, harming, threatening, or endangering one’s health, safety, moral and/or people’s welfare.Download