LAWS1100 Lecture Notes - Lecture 8: Company Secretary, Secret Profit, Apparent Authority
Document Summary
We often engage others to act on our behalf: essentially, agency allows one person to authorize another person to do any act that he or she has the capacity to do themselves. Agency - implications: agency is an area of the law with significant practical business applications and implications. Agency - responsibilities: the relationship of agent and principal creates a number of obligations/duties on the part of both the principal and the agent. Capacity to create an agent: generally speaking, only persons with full contractual capacity may employ an agent, a principal can not authorise an agent to do anything that they could not do themselves. Although a minor is not able to bind herself/himself to certain contracts, a minor may be employed as an agent, and consequently may bind the principal to contracts he/she entered in to as an agent. Ways in which an agent can be authorised to act on behalf of a principal include: actual authority.
