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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 …
In civil regulation cases, company” describes conditions where one person, the principal, authorizes a second individual, the agent, to cope with a 3rd person on the principal’s behalf. Related concepts: actual agency, agency by estoppel, company coupled with an curiosity, company of necessity, deed of company, unique company , specific company, common company, implied agency, scope of the agency, undisclosed company, vicarious legal responsibility.
Along with the person principal, a principal could also be composed of a bunch of persons carrying on a commerce or business by way of a partnership , a registered firm , or one other sort of corporate entity. Authority arises by consensual agreement, and whether or not it exists is a question of fact.
Conduct in good religion requires that each party proactively take action to assist the opposite in the realisation of their bargain, versus mere abstention from obstructive behaviour. This inside relationship between principal and agent should start with an settlement, since in any other case the principal would don’t have any rights towards the agent—even the precise to beneficial service presupposes the agent’s consent to serve.
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