Agency Law PDF

1. Who is an agent? Bamgboye v University of Ilorin o A relationship where one person can enter legal relationship for another person(third party). o Person acting on beahlf is a principal. 2. What are the types of creating agenct relationships? Agency by Est...

1. Who is an agent? Bamgboye v University of Ilorin o A relationship where one person can enter legal relationship for another person(third party). o Person acting on beahlf is a principal. 2. What are the types of creating agenct relationships? Agency by Estopelle Agency by rattification o At of the agent must be legal, o ratification done in a reasonable time , o the principal must be aware of the facts Agency by agreement Agency by neccessity 3. What are the Duties of an agent? 1. Duty to personally perform – for confidentiality o Except § It is not a secrete private or confidential matter § Neccity means you need to delegate due to the type of work § Express/Implied permission § Emergency to stop total loss 2. To be loyal and obiedient – not departing gtom intructiosn given o Except § You have not been told to follow instuctions expressly § Instructiosn were vague § Proffesiional agent instuction, which is subject to professional practice 3. To use care and skill – depending on level of experience 4. Act in the interest of the hirer 5. Act in good faith – not mking secrete profit, and not acting for selfish interest. 6. Account for money and property. 4. Exeptions to Delegatus non Posest Delegare- when you can delegate duty? In emergency to prevent total loss Exxpress and implied condition to do that The nature of the agency need delegating Generally, this principle is there for confidentiality 5. When an agent cannot perform their duty? Illegality Criminality  Public policy Act of god If an agent cannot perform, they should communicate in good time. 6. Who cannot enter an agreement with an agent? Mentally incapble – if the contract already exist, it puts an end to the agreement, uness the agreement is irrovcable Children – If they do, it must be to the extent of which they will be expected to enter the contract , what they are used to. Bankrupt person 7. Who is a gratuitous agent? 8. Types of Agent? 1. General agent (authority to deal with any person or class) and 2. Special agent (single transaction or transaction with designated persons). 3. Commission agent 4. Brokers e.g Insurance agents and brokers Factors 5. Mercantile agents 6. Del credere agent 7. Solicitors 8. Estate agents 9. Auctioneers. 9. What are the what are the remedies for an agent? They can sue for damages and loss Counter-claim Hold off property – Lien Action for outstanding sum 10. What are the what are the remedies for an Principal? Action in court to claim Request to action to be carried out Action in damages Dismissal/end agency  11. How to terminate an agent relationship ? 1. Compelte the request 2. Operation of law o Performance o Death o Insanity – Drew v Nunn o Bankruptcy o Winding down (companies) 3. Act of parties o Agreement of both parties o Principal askes to leave o Renunciation by agent orally or in writing. Notice of termination must communicated