The Property Brokers Authority’s (EAA) purpose in publishing this monograph is to give property company practitioners a basic understanding of the laws and rules regarding encumbrances in Hong Kong. In the case of a company, since a corporation is a fictitious authorized particular person, it may well solely act by means of human agents. He’s an expert within the legislation of contracts, agency, torts, sale of goods and restitution. This form of company is inherent in the status of a partner and does not come up out of a contract of agency with a principal.
Up to date case regulation and case evaluation concerning the admissibility of an agent’s admission based mostly on the agent’s data of the principal’s conduct or way of thinking, and whether or not knowledge that comes to the attention of an agent by notice or otherwise is robotically held to be recognized by the principal.
Succinctly, it might be referred to as the equal relationship between a principal and an agent whereby the principal, expressly or implicitly, authorizes the agent to work underneath his or her management and on his or her behalf. The explanation for this rejection lies mainly in the early Roman conception of a contractual obligation as a personal relationship binding the events in some quasi-mystical approach.
When the employer supplies more particular directions, or exerts more management, as to the means and methods of doing the job—by offering specific directions as to how items are to be sold or marketed, for instance—then an company relationship could exist.
Necessity: The agent and principal don’t have any agreement, however the agent has to behave to prevent an injury to folks or property. An settlement creating an agency relationship may be specific or implied, and both the agent and principal may be either a person or an entity, similar to a company or partnership.