Who Is An Agent?

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1. Apparent Authority – It is a situation when a third party starts believing that the person working on behalf of the owner has more authority than it was described in the contract. In this situation, the owner is bound by the actions of that person. 2. Acceptance – It is the agreement by one party to the offer presented by another party to it. After the offer has been made there is a stage of consideration which decides whether it will be accepted or not. 3. Agent – An agent is a person who is authorized by another person or party to take decision on their part. The agent has the authority or power to bind the party he/she is representing by contract with third parties. 4. Anticipatory repudiation – It is a form of a breach of contract which occurs when one of the parties involved in a contract refuses to perform the work they were responsible for according to the contract. 5. Breach of Standard of care – Standard of care can be referred to as the level of attention, carefulness and common sense a reasonable person would show while working. Breach of standard of care is failure to meet this standard of care. 6. Capacity to contract – To enter into a contract, a person has to be legally able in terms of legal age and mental state which is known as the capacity to contract. 7. Contractual privity – Contractual privity means that the rights offered and obligations imposed under a contract are applicable only to the parties involved in that contract. 8. Consideration –
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