The Property Agents Authority’s (EAA) purpose in publishing this monograph is to provide property agency practitioners a common understanding of the laws and regulations regarding encumbrances in Hong Kong. Differing from this basic approach, the common regulation has recognized a lot of extra specific rights and duties between principal and agent. It follows that it’s a violation of an agent’s fiduciary duty to his principal to have unrevealed pursuits hostile to these of his principal.
Continental European legislation classifies the enterprise of transactions within the place of one other as agency only when the transactions are legal. Right here additionally it depends within the first instance upon whether the principal or the third social gathering must bear the risk, since typically an agent performing without authority shouldn’t be personally accountable.
An unbiased contractor is subject to the management of an employer solely to the extent that he or she should produce the final work product that he or she has agreed to offer. The jurists of the 18th century, employing the phrase qui facit per alium, est perinde ac si facit per se ipsum (whoever acts through one other acts as if he were doing it himself”), made a lot use of the fiction of identification.
Duty to account for any cash spent or obtained while appearing for the principal. Principals and the third parties when the brokers deal. An agent must not usurp an opportunity from the principal by taking it for himself or passing it on to a 3rd occasion.
Thus, when the principal uses the assistance of an agent, the offer, which is usually made by a single act, becomes divisible into two elements (the authorization and the motion of the agent). If the agent has actual or apparent authority, the agent will not be chargeable for acts performed within the scope of such authority, so long as the relationship of the agency and the id of the principal have been disclosed.