The Property Brokers Authority’s (EAA) goal in publishing this monograph is to give estate agency practitioners a general understanding of the laws and laws referring to encumbrances in Hong Kong. Nineteenth-century legal idea additionally strengthened the so-known as disclosure principle (Offenheitsprinzip), in line with which the acts of an agent have direct authorized implications for the principal solely when the agent makes it known to the third occasion by acting in the title of his principal that he acts for him and never for himself.
The extra balanced answer offered by the courts on the Continent, nonetheless, is to make the nice faith of the third social gathering the determinative factor, since in the traditional case the actual interest of the agent is just to keep away from any private obligation.
On the similar time that trendy society’s concern for third individuals’ rights has led to recognition of powers of position, thereby making an agent’s energy of representation less dependent upon the will of his principal (the latter being bound in these cases whether or not or not he wishes to be), a greater view of personal autonomy , as expressed within the act of authorization, sees a fundamental connection between the agent’s act and the desire of his principal in the authorized transaction as a whole.
The use of this fundamental doctrine within the common-legislation nations provides rise to questions relating to the id of the undisclosed principal, the election of remedies that have to be made by the third party, the extent of the respective liabilities, the appropriate of the third party to setoff (the amount of its own damages from any sum that might be awarded it), etc.
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