The Estate Brokers Authority’s (EAA) goal in publishing this monograph is to provide estate company practitioners a basic understanding of the laws and rules regarding encumbrances in Hong Kong. Up to date case legislation and case evaluation regarding company and partnerships, particularly on agents and partners, relevant company principles, and fiduciary duty of companions. Certain contracts had been effective solely when made in a judicially prescribed method.
An agent can signify the pursuits of more than one principal, conflicting or probably conflicting, only after full disclosure and consent of the principal. The place the principal isn’t bound as a result of the agent has no precise or obvious authority, the purported agent is liable to the third celebration for breach of the implied guarantee of.
Lastly, the agent additionally has the abstract responsibility of conducting himself in order to not deliver disrepute upon the principal. Such a relationship presupposes a level of bodily control by the grasp over his servant, which may exist, for example, over the motive force of the principal’s supply truck however is lacking over the principal’s issue or dealer.
According to English and American legislation , the legal responsibility of a principal for his agent’s torts within the bizarre course of his employment relies upon upon the existence of a grasp-servant relationship. Then again, the top of the family might transact business through his slaves or his dependent sons, who weren’t conceived of as agents however as lengthy arm” extensions of the contracting master or father.
The query then arises as as to whether the unknowing agent is protected by the law, since he may be personally liable on the contract. Continental European codifications usually don’t deal with the contract of agency as a separate sort of contract. In India, part 182 of the Contract Act 1872 defines Agent as an individual employed to do any act for another or to symbolize one other in dealings with third individuals”.