Who Is An Agent?

Agent- A person who is employed to represent another while dealing with a third party.

* Capacity to contract can be granted when the employer tells an employee that he or she is authorized to bind the organization.

Contractual capacity is, “The legal capability to form a binding contract. A number of classes of people lack contractual capacity, and these include minors…” (BusinessDictionary.com, 2010). A minor’s capacity to contract and the lack of an employee’s capacity to bind a company by contract could be used in defense against a breach of contract.’ Consideration is necessary for any contract to exist. A promissory estoppel is used when consideration requirements are absent (Kubasek, Brennan, & Browne, 2015, p.250).

Revocation. [7] Whoever makes an offer can revoke it as long as it hasn't yet been accepted. This means that if you make an offer and the other party wants some time to think it through, or makes a counteroffer with changed terms, you can revoke your original offer. Once the other party accepts, however, you'll have a binding agreement. Revocation must happen before acceptance. There are some offers that are irrevocable. The offer must be revoked in the same manner it was given.

A contract is an agreement that creates an obligation that is enforceable by the law. The law has clear guidelines that before there exists a contract that will be binding, there has to be an offer, acceptance, mutual obligation and all parties should be of sound mind and by law be of legal age. A contract can either be written or spoken. Assuming that the buyers were at the required age went to the car dealership looking to purchase a new car.

Acceptance. This basically means that the terms of the offer have been clearly understood and agreed to through consent

This is a clear expression of a party accepting agreement to the terms of the offer.

1. Competent parties. A court will not uphold a contract entered into by parties the law does not believe have the capacity to take on such a legal responsibility, such as minors or people who are mentally incapacitated.

“Agency is the relationship arising where one person, the principal (P), appoints another, the agent (A) to bring about, modify or terminate legal relations between the principal and a third party (T)”

The first important concept is that real estate agencies are created by agreement, by ratification, and by estoppels. The second important concept is that a real estate broker may represent both the buyer and seller in the same transaction; however, only with the knowledge and consent of both parties, which is called dual agency. On the other hand, a single agency is when a real estate broker acts as an agent to only the seller or only the buyer. The third important concept is a person can file a complaint about a real estate agent by sending a written complaint to the real estate commissioner in order for an investigation to be

A contract is an agreement made with an intention of legal rights and obligations which the law will enforce. It contains the agreement, consideration and intention. It also have some other things to consider, like capacity of parties, genuine consent or legality of object.

An agent is a person working on behalf of another person. Using the example above, the employee is the agent of the employer; the employee is doing the

Agency issues arise when one party (principal) gives another party (agent) an authority to act on his behalf. In this context, the principal is the investor while the professional hedge fund

Although the agent is limited by actual authority, the principal is still bound by the acts of the agent where in the case of Waugh v H.B. Clifford & Sons Ltd [1982] 1 Ch 374, it was held that the client has to be bound by the compromise entered into by the solicitor even though the client did not want to compromise.

freedom of contract. According to section 62 of the Law of Contract Act6, parties to