Agreement Between Principal And Agent

2. Duty to compensate the officer: for example, an owner hired two agents to dig a ditch, but did not tell the officers that a telephone line was in progress to dig the ditch. The agents cut the line and the phone company chased them. The principal owner was required to compensate the agents for this liability. [14] Although the agency contract is not required in writing, contracts made by agents with third parties often have to be concluded in writing. For example, Section 2-201 of the Single Code of Commerce expressly stipulates that contracts for the sale of goods for the price of five hundred dollars or more are signed in writing and „by the party against whom the execution is requested or by its agent.” Agency by ratification: the agency by ratification is actually the opposite of what most people understand to be agency because it happens when someone presents itself as an agent of another fake. The agency is created when the client approves (ratification) the agreement after the fact. Special AgentAn agent who has been contractually assigned to carry out specific activities. is the one that has the authority to act only in a specifically designated proceeding or in a specific set of transactions.

For example, a real estate agent is usually a special broker tasked with finding a buyer for the client`s land. Suppose Sam, the seller, appoints an Alberta agent to find a buyer for his property. The Alberta commission depends on the sale price which, according to Sam in a letter, „certainly cannot be less than $150,000.” If Alberta finds a buyer, Bob, who agrees to buy the property for US$160,000, his signature on the sales contract will not bind Sam. As a special agent, Alberta had the power to find only one buyer; it was not entitled to sign the contract. A representative should be distinguished from a merchant – in commercial language, a trader buys shares from the supplier or customer, then resells them to his customers for a bonus, while an agent finds customers for the customer, who then sells directly to customers and pays commissions to the agent. The relationship between the main agency ends in four ways: in a non-state contractual situation, the responsibilities of the parties end at the border. There is no relationship beyond the agreement. This literary approach is justified by the broader principle that we should all act freely if we do not commit to a particular course. Although the client is not the agent`s agent, the client has certain obligations to the agent. B, for example, not intervening and compensating the officer`s work. The employer`s liability to its employees has been replaced by the workers` compensation system, under which the worker waives the right to sue for damages if he immediately pays medical expenses and losses.

The injuries had to be due to work and the victim had to be an employee.