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Agency Relationships Must Be Created By Expressed Agreement. True False

In Uncategorized on September 9, 2021 at 2:17 am

An agency relationship that is established retroactively is known as an agency by: Prab asked his agent Hari to buy his 500 shares of X Ltd. Hari owned 600 shares of X Ltd, so that, without informing Prab where the shares came from, he sold his shares to Prab at market value. Is Hari not meeting his agency obligations? Con appoints George to be his agent for two weeks. George agrees to act without paying. Con orders George to fetch rent from his tenants every Friday morning and pay the rent to the bank next door. The second week, George collects the rent, but cannot pay it. On the way back, he leaves it on the bus and it will never be recovered. Can Con take action against George for breaching his agency obligations? X Ltd has two directors, Joe and Harry. None of the directors is authorized to enter into contracts on behalf of the company.

In practice, Joe enters into all contracts on behalf of the company (with Harry`s agreement). What type of agency has been created when a third party acting in good faith enters into a contract with Joe that indicates that he is acting on behalf of X Ltd? Answer the following questions, then click “Submit” to get your score. Frank enters into a contract with Sally, as he believes that Sally is acting on his behalf, when she is actually Derek`s agent as a result of his explicit instructions. Who can Frank act against in the event of a breach of contract? When is the apparent (supposed) authority of an agent born? Which of the following statements is false? Which of the following is not an agent`s obligation?. . . .