Back to Course

SS2: COMMERCE - 3RD TERM

0% Complete
0/0 Steps
  1. Business Law | Week 1
    5 Topics
    |
    1 Quiz
  2. Agency | Week 2
    7 Topics
    |
    1 Quiz
  3. Sale of Goods | Week 3
    5 Topics
  4. Rights of an Unpaid Seller and Buyer, Hire Purchase | Week 4
    3 Topics
    |
    1 Quiz
  5. Rights and Obligations of Employer and Employee | Week 5
    1 Topic
    |
    1 Quiz
  6. Government Regulation of Business | Week 6
    1 Topic
    |
    1 Quiz
  7. Structure of Business | Week 7
    3 Topics
  8. Organizational Structure Cont'd | Week 8
    2 Topics
  9. Span of Control | Week 9
    4 Topics
    |
    1 Quiz
  10. Introduction to Business Management | Week 10
    4 Topics
  11. Business Organizational Units | Week 11
    1 Topic
    |
    2 Quizzes



Lesson 2, Topic 6
In Progress

Appointment of an Agent

Lesson Progress
0% Complete

Agency can be created through the following:

1. Agency by Agreement: An agent can be appointed expressly in writing, orally or by deed.

2. Agency by Implication: The circumstance of the situation may warrant a principal to appoint an agent by conduct or implication but not in writing. In this case, a person may find himself in a situation where his services are accepted as an agent.

3. Estoppel: This arises when the principal by words or conducts allows the impression that another person is acting on his behalf which he may not later deny the authority of such a person to act on his behalf.

4. Necessity: An agency may arise by necessity when an unforeseen emergency occurs. This arises when an individual is in possession of a property belonging to another and it becomes necessary for the holder to do something in connection with the property to protect the owner’s interest.

5. Ratification: This happens when one person approves an act previously done by another in the former’s name without authority.

Responses

Your email address will not be published. Required fields are marked *

error: Alert: Content selection is disabled!!