Company Regulation In Hong Kong And People’s Republic Of China

The Property Agents Authority’s (EAA) objective in publishing this monograph is to provide estate agency practitioners a common understanding of the laws and laws referring to encumbrances in Hong Kong. Thus, French jurists infer from article 1984 of their Civil Code, in keeping with which company is the act of the agent pour le mandant et en son nom (for and on behalf of the principal”), the detrimental conclusion that in case an agent does not disclose that he is appearing as an agent for a principal, the implications contact only the agent” himself.

Different fashionable codes like those of Poland and Italy do not even contain the except” clause and prescribe solely that an agent’s energy of legal professional must be granted with the formalities prescribed for the contract that is to be entered into by the agent.

Though a similar category of authority by law” will not be unknown in common law, powers based mostly on family relationships are scarce and appear in only a few cases. The agent should say they’re making the contract as agent. In addition, the agent may be sued by the other get together to the contract for Fraud The principal is mostly not bound if the agent was not actually or apparently authorized to enter into the agency

The doctrine of respondeat superior (that the master should answer”) is due to this fact handled as part of company regulation, though the rationale behind the grasp’s legal responsibility is that he has assigned to a servant beneath his management a task that unforeseeably results in damage to a third agency

Generally, this contains conduct that’s not a serious departure from that approved, each in manner and space, by the master and that’s actuated at the least partly by a motive to serve the master. The principal additionally has the more summary obligation to conduct himself in order to not harm the agent’s agency