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Business Associations Study Notes (Bible)
LAWS11-315 - Business Associations
11 Found helpful • 35 Pages • Complete Study Notes • Year: Pre-2021
DID AGENT MAKE SECRET PROFITS (BEHIND PRINCIPAL’S BACK?) – MUST STATE THAT CRIMINAL SANCTIONS MAY APPLY UNDER THE CRIMES ACT – IT IS A CRIMINAL OFFENCE TO MAKE SECRET PROFITS 1. IDENTIFY THE P ARTIES - THE PRINCIPAL (‘P’): WHO GRANTS AUTHORITY TO... - THE AGENT (‘A’): WHO ACTS WITHIN THAT AUTHORITY TO BIND CONTRACTUALLY THE PRINCIPAL AND... - A THIRD PARTY (‘TP’) 2. DO WE HAVE EXPRESSED AUTHORITY? (ACTUAL OR IMPLIED) 3. IS THERE APPARENT/OSTENSIBLE AUTHORITY? 4. WHAT DID THE PRINCIPLE DO THAT MADE IT REASONABLE FOR THE THIRD PARTY TO BELIEVE THAT HE/SHE HAD AUTHORITY TO ACT ON THE P’S BEHALF A) UNIFORM/BADGES B) COMPANY CAR WITH LOGO C) LEFT IN CHARGE D) RECEIPT BOOK/STATIONARY/BUSINESS CARDS E) PRE-EXISTING RELATIONSHIPS AND PREVIOUS DEALINGS (FREQUENCY AND NATURE OF DELIVERY [VALUE OF THE GOODS])
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