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Wednesday, February 20, 2013

Liabilty In Agency Relationships

You run a successful paper mill and convey out your three best personnel to secure refreshed wood pulp sources using due diligence and skill. Applying the dominance principles outlined in this chapter, answer the following questions.
witch, does not give-up the ghost with wood pulp, solely brings back three flinchs. Acting within the scope of her authority, she contracted with Evon, who knew your identity at the time; Felipe, who knew that Delilah was acting on behalf of someone but not whom; and Giorgio, who did not know that Delilah was acting on anyones behalf. For which contracts, if any, ar you liable? For which contracts, if any, is Delilah liable? Explain.
For which contracts, if any, are you liable?
In this scenario, Delilah and I have an way relationship. In an agency relationship between two parties, one of the parties, called the agent, agrees to represent or act for the other, called the hint (Miller, Hallowell, 2011). In this case, I am the primary(prenominal) and Delilah is my agent. Meaning, we both agree that she will act on behalf and instead of me in negotiating and transacting business with thirdly parties. An agent is also empowered to perform legal acts that are binding on the monger and can bind a principal in a contract with a third person.

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Determining the obligation for these contracts made by the agent is based on whether or not the identity of the principal was known to the third political party at the time the contract was made. A disclosed principal is a principal whose identity is known by the third party at the time the contract is made by the agent. A partially disclosed principal is a principal whose identity is not known by the third party, but the third party knows that the agent is or may be acting for a principal at the time the contract is made. An undisclosed principal is a principal whose identity is wholly unknown by the third party, and the third party has no knowledge that the agent is acting in an agency force at the time the contract...If you want to get a near essay, order it on our website: Ordercustompaper.com



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