ALPHA COLLEGE OF TECHNOLOGY COLLABORATION WITH INTERNATIONAL UNIVERSITY COLLEGE OF TECHNOLOGY TWINTECH SUBJECT NAME: BUSINESS LAW SUBJECT CODE: LAW2013 TERMINATION OF AGENCY PREPARED BY: NAME: MOHAMAD AL-HAFIZ BIN SALLEH MATRIC NO.: 10071260 NAME: SITI RAHIMAH BINTI RAZMAN MATRIC NO.: 10071260 NAME: NURUL ASHIKIN BINTI MD. YUSOF MATRIC NO.: 10071260 NAME: KHATIJAH BINTI AHMAD MATRIC NO.: 10071260 NAME: LYANA NADIA BINTI SALAHUDIN MATRIC NO.: 10071260 SEMESTER 4 2011/2012 ABSTRACT An agent's authority can be terminated at any time. If the trust between the agent and principal has broken down, it is not reasonable to allow the principal to remain at risk in any transactions that the agent might conclude during a …show more content…
By frustration Section 154 and 163 of the contract act 1950 deal with manner in which an agent’s authority may terminate. The said section provides as follows: 154. An agency is terminated by the principal revoking his authority; or by the agent renouncing the business of the agency; or by the business of the agency being completed or by either the principal or agent dying or becoming sound mind; or by the principal being adjudicated or declared a bankrupt or an insolvent. Termination of agency, where agent has an interest in subject matter 155. Where the agent has himself an interest in the property which form the subject-matter of the agency, the agency cannot, in absence of an express contract be terminated to the prejudice of such interest. Illustration a. A give authority to B to sell A’s land, and to pay himself, out of proceeds, the debt due to him from A. A cannot revoke this authority, nor can it be terminated by his unsoundness of mind or death. When principal may revoke agent’s authority 156. The principal may save as is otherwise provided by the last preceding section; revoke the authority given to his agent at any time before the authority has been exercised so as to bind the principal. Revocation where authority has been partly exercised 157. The principal cannot revoke the authority given to his agent after the authority has been partly exercised so far as regards such acts and obligations as arise from acts already done in the
HINT: See Chapters 10-14 of the text to help understand some of the legal issues covered in this assignment.
No, the act to the agent’s authority to act on behalf of the principal should not be terminated if the agent violates his or her ethical or legal duty to the principal. Sometimes agents violate the code of ethics because he or she may feel that it will benefit him or her on future opportunities. For example, (Miller, 2013) “three employees of Lockheed Martin Corporation copied confidential information and trade secrets from Lockheed’s computer network onto compact discs and Blackberries. Lockheed had authorized the employee-agent to access these files but was understandably upset when the three resigned and went to work for a competitor, taking the trade secrets with them” (pg. 648). Ethically, these three employees didn’t act so loyal to the principal when they took the trading secrets with them when they moved to work for a competitor of the agent. However, like the book stated, because the principle gave them authority to have access to those files, the district court ruled in favor of the three employees because they did not lose this authorization when they breached loyalty to the principal. As long as an agent has full permission, to act on behave of the principal, the agent is in no wrong doing if he as she decides to leave the company
Respondent understudies brought an activity against applicant school area affirming infringement of the Foundation Clause of U.S. Const. change. I (Establishment Clause) for candidate's approach of understudy drove petition earlier to class football games. The trial court urged candidate from actualizing the arrangement as it stood, yet allowed an altered strategy. Both sides bid. The re-appraising court asserted, with changes, holding that both strategies disregarded the Establishment Clause. Candidate requested of for a writ of certiorari, guaranteeing its approach did not abuse the Foundation Clause on the grounds that the football game messages were private understudy discourse, not open discourse. The Court confirmed, holding that the re-appraising court appropriately verified that applicant's strategies disregarded the Establishment Statement on the grounds that the football game messages were open discourse approved by an administration approach and occurring on government property at government-supported school-related occasions, and on the grounds that the substances of solicitor's approach included both saw and real government support of the conveyance of supplication at vital school
b. Under some circumstances, even if the time for performance of the contract has expired.
(b) If a stop-work order issued under this clause is canceled or the period of the order or any extension thereof expires, the Contractor shall resume work. The Contracting Officer shall make an equitable adjustment in the delivery schedule or contract price, or both, and the contract shall be modified, in writing, accordingly, if --
One of the things everyone looks forward to is having security. However, the job market has not been strong enough to give job security. Since the Market crashed in 2008, there has been an increase in “at will” employees. At will employment means that the company or the firm has the right to terminate your employment at any given time for any reason with or without a legit cause. At will also give employees the flexibility to quit their job as they wish without giving any notice or reason. In “Employment at Will and Due Process” by Patricia A. Wethane and Tara J. Radin expresses their views on “At Will” employment. Radin and Werhane mention several views on ethical treatment of employees, in principle and in practice, against at will employment. In this article they believe it violates certain rights that employees have, it violates the principle of fairness, and there are certain legal objections.
Joan violated her legal duty of loyalty by impairing Gagnon's rights with relevancy the Shelburne property. Like all fiduciaries, Joan owed Gagnon the duty of utmost good faith and absolute loyalty. The illustration mandate of that primal legal duty beholden Joan to act, within the absence of language within the power of attorney to the contrary, entirely in and two additional Gagnon's interests, even at the expense of her own interest in matters connected with the agency.
Laurel Creek first argues that this is a case of actual agency and that Anna Bishop has actual authority as Gilbert’s agent to sign the admissions paperwork as is therefore bound by the arbitration agreement therein.
The Issue: here is whether the Mr. Rosemberg, under the facts and circumstances of this case, had the right to terminate the tenant’s lease pursuant to the termination clause.
By an agreement in writing, prepared without professional assistance, and headed “Agreement between C. and the O. Company”, C. granted to the company, in consideration of the sum of £5, the sole right for a specified period to quarry and remove stone from land owned by him and the company agreed to pay royalties at rates specified in the agreement. The agreement also contained provision for its extension and an authority by C. to the company to pay all moneys connected with the agreement to his wife and himself as joint tenants. The agreement was signed by C., by a person on behalf of the company and by the wife.
a. What adjustment is required regarding Paul’s purchase of the partnership interest? Must a section 754 election be made?
Pearsal can fire Huxley because he did not observe his duties owed to Pearsal. When duties are not followed a principal has a number of options to seek remedies, firing the agent being among them. The duty in this case was to not accept any check from Jameson and by taking a check from Jameson Huxley did not observe his duty. Pearsal can fire Huxley because he did not observe his duties owed to Pearsal. When duties are not followed a principal has a number of options to seek remedies, firing the agent being among them. The duty in this case was to not accept any check from Jameson and by taking a check from Jameson Huxley did not observe his duty. Pearsal can fire Huxley because he did not observe his duties owed to Pearsal. When duties are
Mention the address where the settlement occurs, the date, and the date of the maximum permissible allowance permitted for the settlement. Understanding the possible causes and situations of revoking the power of attorney is important as it has governing directives upon how the said power of attorney is revocable and when
There are some certain ways to terminate the wakalah which are by having agreement from the principal and agent, the purpose of the wakalah is done, when the agent decides to quit, when the principal discharges his agent, losing the legal capacity in each side, and destruction of the object. The first case is that when the principal and the agent decide to terminate the wakalah then the wakalah would be terminated. Secondly, when the purpose of the wakalah is finished. For example, A is a principal and B is the agent. A hired B to buy books for A so when B buys the books and deliver them to A the agency relationship is terminated. Basically, when the principal hires an agent, he hired him for a purpose like doing some works instead of him but
The principle of apparent authority, implies that principal does not have an agreement with the agent but with the third party who is the customer or rider. If the principal, in this case, orders the agent not to take a given route due to the bad conditions of the road the agent will not go against the will