the law of agency

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the law of agency the law of agency “you may be legally responsible for the acts of someone else” what is an agency the law of agency could be defined as the juridical relation which results from the manifestation of consent by one person to another that the other shall act on his behalf and subject to his control, and consent by the other so as to act. (black’s law dictionary, 1991). article 2199 of the civil code of ethiopia provides the definition that : agency is a contract whereby a person, the agent, agrees with another person, the principal, to represent him and to perform on his behalf one or. several legally binding acts. key words : principal : is someone who confers on another the authority to act on their behalf agent : the party on whom the authority is conferred or represent another in dealing with third …

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al interdicted persons can not exercise their right of contracting unless they carried out using their tutors, trustees, sources of agency authority derived from a contract : - authority by judicial act. authority derived from the law. tests of agency (how do we know agnecy relationship exists?) agency many proven if the following three particulars are present : authority run between the principal and agent (law, contract, judicial rulings) being subject of control (not micro management but control the relationship) the agent has to be acting on behalf of the principal ex. a general manager of a certain plc is an agent of that plc. hence, his authority is derived from articles and memorandum of association of the company. he should represent the company and carried out his authority with in the scope of power given by the company articles of incorporations. his power is controlled by the general assembly …

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rney failure to communicate partial or full revocation of power of attorney to third parties where any statement or conduct of principal lead third parties to believe that there is agency relationship. for example, a company secretary has implied authority to enter into contracts on behalf of a company which are related to the day-to-day operation of the business by ratiﬁcation. this arises where a principal retrospectively adopts a contract made on his behalf by an agent. ratiﬁcation will only be effective if strict conditions are met: ■ the agent must have disclosed that he was acting for a principal; ■ the principal must have been in existence when the agent entered into the contract, e.g. if the principal is a company, the certiﬁcate of incorporation must have been issued; ■ the principal must have had the capacity to enter into the contract not only when the contract was made …

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t does not exist; but as a matter of law arising out of the factual position of the parties in the eyes of third parties. this might be happened (a) if in the situation that the principal failed to receive power of attorney from the agent, (b) if the principal failed to communicate partial or full revocation of power of attorney to third parties or (c) where any statement or conduct of principal lead third parties to believe that there is agency relationship. modes of representation 1. disclosed (complete) agency disclosed agency is the mode of representation in which the agent reveals the name of the principal to the third parties with which he/she is interacting (on behalf of the principal). disclosed agency is recognized under art 2189(1) of the civil code in such a way that the representation of the principal by the agent shall have the effect of …

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the contracts he makes with third parties, notwithstanding that such third parties know that he is an agent. undisclosed agency is the mode of representation in which there is no disclosure of the fact that the front person is acting on behalf of another person. that is neither the fact that he is acting on behalf of another person nor the name of another person is made known to the third party contracting. therefore, the agent acts on his own name and he is acting on his own behalf. the latter is inferred from the situation where the third party is not aware of the fact that the agent is acting to the benefit and on behalf of another. this form of representation is inferred from the expression of art 2197(1) last proviso. that is “, --- notwithstanding that such third parties know that he is an agent.” this last …

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О "the law of agency"

the law of agency the law of agency “you may be legally responsible for the acts of someone else” what is an agency the law of agency could be defined as the juridical relation which results from the manifestation of consent by one person to another that the other shall act on his behalf and subject to his control, and consent by the other so as to act. (black’s law dictionary, 1991). article 2199 of the civil code of ethiopia provides the definition that : agency is a contract whereby a person, the agent, agrees with another person, the principal, to represent him and to perform on his behalf one or. several legally binding acts. key words : principal : …

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