Will You Add?
#1 in Business Subscribe Email Print

You are here: Home > Legal > Legal > Fundamentals of Agency Law

Tags

  • degree
  • scope
  • order goods
  • guillermo oreporemotichovea
  • express authority

  • Links

  • Is Your Office Bugged? Find Out
  • Grandparenting: The Fears
  • Directory Submission And Its Benefits For Online Marketing
  • Will You Add? - Fundamentals of Agency Law

    Lights, Camera - What Is Next?
    Suppose a producer of a movie would yell, lights, camera and then say nothing. What would happen? Well, nothing you say. That is the answer; nothing would happen if there wasn't the call for action. The actors would not move and the set would be at a standstill. The movie would not be made. There has to be the call for action.What about your movie? At what stage are you? Are the lights on with the camera ready to roll? If not, why not? What actions are you taking on a daily basis to get you closer to your dream? Do you even have a dream? Is it written down? Do you have a dream board? All of this takes action. Anyone can have a dream, but it remains just a dream without action.So, what is your action, are you learning something everyday that will bring your dream closer to reality? You have to make a conscious choice. What is your ACTION? Have you made the calls you need to make? Or whatever you need to do at this time. I could sit all day and wish
    gardless of whether or not the result is accomplished. Real Estate Agents are a particular kind of agents. A real estate agent acts on behalf of his principal, almost always the Seller, but can also act on behalf of a Buyer and can, in fact, act on behalf of both Seller and Buyer at the same time subject to certain restrictions. The contract that spells out the terms and conditions of the authority confered by a Seller to the real estate agent is called the Listing Agreement. With the Buyer, the name changes to Buyer's Agency Agreement.

    Based upon the wording of the contractual agreement between the principal and the agent, the authority to act confered upon the agent falls into one or more than one of the following categories. The agent's authority to act can be <

    FOREX Currency Systems – Four Tips to Pick a System that Makes Money
    With the many FOREX currency systems available, you can in theory, simply turn your computer on and follow the signals to generate automatic profits.That’s the theory - but the fact is, there are many FOREX currency systems sold that are obvious scams, and the systems will never work.This article aims to give you tips on picking systems that can make money, and avoid the scams.There are two main reasons why most FOREX currency trading systems fail to live up to their Hype:1. Black Box SystemsThese are systems where the logic is not revealed to the buyer - and for a FOREX currency trading system to be used successfully, the trader must have confidence in it.If you don’t know the logic of the system, you will not have the confidence to follow it when a losing period occurs.You need to follow a system rigidly to make money - otherwise you may as well not have a system in the first place.Using a FOREX Currency tradi
    "Hello there, my name is James ... James Bond and I am ... well ... a Realtor". In the Greater Vancouver area there have been an abundance of famous real estate Agents at any given time, at least famous by name that is. In addition to James Bond and, of course, my own last name (' Frascati' is one of the famous wines of Italy as well as the seventh hill of Rome ), we have had Agents the caliber of Omar Sharif, Vera Cruz, Charlie F. Brown and one Giuseppe Mussolini ( you could spot him on the street because he wore invariably a black shirt and had that certain martial ... how should I say ... goose step ...). Not to mention Yuri Gagarin ( no relation to the astronaut ), Carl Marx, Richard (Dick) Nixon and - yes - Douglas MacArthur ( tough guy to deal with ... ) with his newly-found pal John Yamamoto, to name some more. And, faithful to the oriental tradition that characterizes this neck of the woods, we have been sporting at various times a Ding Dong, a King Woo Kong as well as a Sing T. Sing, a Wu Win-chi Wu ( who used the initials WWW ) and two Ho Chi Minh's. The longest name I have ever come across is Guillermo Oreporemotichovea ( but his friends called him 'Cy' ... no wonder ) and the most memorable slogan ever adopted, to my knowledge, by a Realtor belongs to an Agent by the name of Bob Bye ( now defunct, possibly of starvation ... ) who used to post ads on the paper the likes of " List with Bob Bye - The Guy with the Tie ". Yet, despite the variety of names and walks of life, all Agents - especially in real estate - must abide to the axioms of the Law of Agency when it comes to fulfilling their professional mandates.

    An Agent is a person who is authorized to act on another person's behalf. The person for whom he acts is called his Principal. Because the Agent has authority given to him by the Principal, he can create a legal relationship between the Principal and a third party. For example, a purchasing agent can order goods from a third party on behalf of his principal, so long as the purchase is made within the scope of the agent's authority. In such instance, the principal must pay for the goods because he is effectively bound by the agent in a contract with the third party. The agent, on the other hand, is not a party to the contract.

    The relationship between an agent and his principal is created by contract. Under the Agency Contract the agent is given authority to do certain things in his principal's place. In exchange for the service provided by the agent to act on his principal's behalf, the principal pays the agent a fee or commission. Agents are not employees. The distinction between an agent and an employee is the degree of control and method of remuneration. A principal tells the agent what he wants and leaves it to the agent how to bring about the result. An employer, on the other hand, tells the employee what to do and how to do it. Furthermore, the agent is usually paid by way of a commission that becomes payable only when he brings in the result. An employee, instead, expects to be remunerated for the number of hours he works regardless of whether or not the result is accomplished. Real Estate Agents are a particular kind of agents. A real estate agent acts on behalf of his principal, almost always the Seller, but can also act on behalf of a Buyer and can, in fact, act on behalf of both Seller and Buyer at the same time subject to certain restrictions. The contract that spells out the terms and conditions of the authority confered by a Seller to the real estate agent is called the Listing Agreement. With the Buyer, the name changes to Buyer's Agency Agreement.

    Based upon the wording of the contractual agreement between the principal and the agent, the authority to act confered upon the agent falls into one or more than one of the following categories. The agent's authority to act can be <

    Internet Directories and Back Links
    To those who are reading this article, I assume probably have some internet knowledge and are curious about the big hype there is about directories. Perhaps some even think that they are a waste of time and see no extraordinary purpose for them. To be perfectly honest, that’s almost correct.The ways of the search engines are becoming ever more powerful, they are constantly evolving and ‘learning’ at an exponential rate. Why would anyone bother visiting a directory to search for a specific website or product when they could just use a SE?What some of you that don’t know, Google has an estimated 8-9 Billion web pages in its index. Yahoo and Msn have roughly the same amount. When some one searches they usually only see the first 10-20 sites and then never even notices the other 6 million results. So one could argue the fact that directories are a way for small time websites to gain exposure on the internet. Similar to the way the small time search engines.
    h his newly-found pal John Yamamoto, to name some more. And, faithful to the oriental tradition that characterizes this neck of the woods, we have been sporting at various times a Ding Dong, a King Woo Kong as well as a Sing T. Sing, a Wu Win-chi Wu ( who used the initials WWW ) and two Ho Chi Minh's. The longest name I have ever come across is Guillermo Oreporemotichovea ( but his friends called him 'Cy' ... no wonder ) and the most memorable slogan ever adopted, to my knowledge, by a Realtor belongs to an Agent by the name of Bob Bye ( now defunct, possibly of starvation ... ) who used to post ads on the paper the likes of " List with Bob Bye - The Guy with the Tie ". Yet, despite the variety of names and walks of life, all Agents - especially in real estate - must abide to the axioms of the Law of Agency when it comes to fulfilling their professional mandates.

    An Agent is a person who is authorized to act on another person's behalf. The person for whom he acts is called his Principal. Because the Agent has authority given to him by the Principal, he can create a legal relationship between the Principal and a third party. For example, a purchasing agent can order goods from a third party on behalf of his principal, so long as the purchase is made within the scope of the agent's authority. In such instance, the principal must pay for the goods because he is effectively bound by the agent in a contract with the third party. The agent, on the other hand, is not a party to the contract.

    The relationship between an agent and his principal is created by contract. Under the Agency Contract the agent is given authority to do certain things in his principal's place. In exchange for the service provided by the agent to act on his principal's behalf, the principal pays the agent a fee or commission. Agents are not employees. The distinction between an agent and an employee is the degree of control and method of remuneration. A principal tells the agent what he wants and leaves it to the agent how to bring about the result. An employer, on the other hand, tells the employee what to do and how to do it. Furthermore, the agent is usually paid by way of a commission that becomes payable only when he brings in the result. An employee, instead, expects to be remunerated for the number of hours he works regardless of whether or not the result is accomplished. Real Estate Agents are a particular kind of agents. A real estate agent acts on behalf of his principal, almost always the Seller, but can also act on behalf of a Buyer and can, in fact, act on behalf of both Seller and Buyer at the same time subject to certain restrictions. The contract that spells out the terms and conditions of the authority confered by a Seller to the real estate agent is called the Listing Agreement. With the Buyer, the name changes to Buyer's Agency Agreement.

    Based upon the wording of the contractual agreement between the principal and the agent, the authority to act confered upon the agent falls into one or more than one of the following categories. The agent's authority to act can be <

    Befriending The Spirit Of Money: The Top Ten Laws
    Money is energy. Money is an exchange. Money makes the world go round. Money, Money, Money, Money! Money is possibly the most powerful metaphor of our planet. How do you feel when you are free? Receive the keys to wealth, and discover the soulful laws where money becomes an auspicious bird that cannot wait to perch on your shoulder to bless you, again, and again!1. Know YourselfWhat do "poor" and "wealthy" mean to you? What programs were you raised on? How did your parents handle money? Do you think that you are a good person if you are rich or if you are poor? Do you give your power away to wealthy people? Do you envy or resent them? How do you treat wealthy people? How do you expect to be treated by them? How do you speak of them? How do you speak of poor people?2. Beware of Projections and other Personifications[The love of] Money is the root of all evil... Money is hard to come by... Money keeps on eluding me... Money doe
    de to the axioms of the Law of Agency when it comes to fulfilling their professional mandates.

    An Agent is a person who is authorized to act on another person's behalf. The person for whom he acts is called his Principal. Because the Agent has authority given to him by the Principal, he can create a legal relationship between the Principal and a third party. For example, a purchasing agent can order goods from a third party on behalf of his principal, so long as the purchase is made within the scope of the agent's authority. In such instance, the principal must pay for the goods because he is effectively bound by the agent in a contract with the third party. The agent, on the other hand, is not a party to the contract.

    The relationship between an agent and his principal is created by contract. Under the Agency Contract the agent is given authority to do certain things in his principal's place. In exchange for the service provided by the agent to act on his principal's behalf, the principal pays the agent a fee or commission. Agents are not employees. The distinction between an agent and an employee is the degree of control and method of remuneration. A principal tells the agent what he wants and leaves it to the agent how to bring about the result. An employer, on the other hand, tells the employee what to do and how to do it. Furthermore, the agent is usually paid by way of a commission that becomes payable only when he brings in the result. An employee, instead, expects to be remunerated for the number of hours he works regardless of whether or not the result is accomplished. Real Estate Agents are a particular kind of agents. A real estate agent acts on behalf of his principal, almost always the Seller, but can also act on behalf of a Buyer and can, in fact, act on behalf of both Seller and Buyer at the same time subject to certain restrictions. The contract that spells out the terms and conditions of the authority confered by a Seller to the real estate agent is called the Listing Agreement. With the Buyer, the name changes to Buyer's Agency Agreement.

    Based upon the wording of the contractual agreement between the principal and the agent, the authority to act confered upon the agent falls into one or more than one of the following categories. The agent's authority to act can be <

    Filing for Bankruptcy
    If you owe so much credit card debt that you are never going to be able to pay it back, it may be time to consider filing for bankruptcy. This is a decision that should never be taken lightly because the damage it will do to your credit rating will be substantial.You may not realize the far reaching effects that declaring bankruptcy will have on your life. Your credit report will be affected for at least 10 years. Your car insurance will go up, they will now see you as a high risk for non-payment. You may no longer be able to buy homeowners insurance; many companies just will not write a policy to you. Many employers whether fair or not, will not hire new employees with bad credit histories; they feel it shows them that you are unreliable.The laws have also change about being able to declare bankruptcy. The standards you must meet before being eligible are set much higher. The federal government made and passed the stricter standards for filing.O
    s principal is created by contract. Under the Agency Contract the agent is given authority to do certain things in his principal's place. In exchange for the service provided by the agent to act on his principal's behalf, the principal pays the agent a fee or commission. Agents are not employees. The distinction between an agent and an employee is the degree of control and method of remuneration. A principal tells the agent what he wants and leaves it to the agent how to bring about the result. An employer, on the other hand, tells the employee what to do and how to do it. Furthermore, the agent is usually paid by way of a commission that becomes payable only when he brings in the result. An employee, instead, expects to be remunerated for the number of hours he works regardless of whether or not the result is accomplished. Real Estate Agents are a particular kind of agents. A real estate agent acts on behalf of his principal, almost always the Seller, but can also act on behalf of a Buyer and can, in fact, act on behalf of both Seller and Buyer at the same time subject to certain restrictions. The contract that spells out the terms and conditions of the authority confered by a Seller to the real estate agent is called the Listing Agreement. With the Buyer, the name changes to Buyer's Agency Agreement.

    Based upon the wording of the contractual agreement between the principal and the agent, the authority to act confered upon the agent falls into one or more than one of the following categories. The agent's authority to act can be <

    Webconference Applications For Service
    ProblemsIn many ways, the requests for technical assistance are symptomatic of the deficiencies in the users' training or the quality of the documentation they were given. Of course, the users have to read the training material; understandably, the reading can be monotonous. However, producing step-by-step videos for the purpose of instructing does not make economic sense. This is especially difficult if the user seeking assistance is extremely ill-informed.SolutionAn after-sales service team puts together technical demonstration online to explore and explain the problem. A panic button on the WEB site connects the client to a meeting room from where the presentation is made, simultaneously, by an agent. The agent might ask the client to go to a specific page of a knowledge database; for example, the one that describes step by step all the steps required to complete an operation. Also, the usual questions, the FA
    gardless of whether or not the result is accomplished. Real Estate Agents are a particular kind of agents. A real estate agent acts on behalf of his principal, almost always the Seller, but can also act on behalf of a Buyer and can, in fact, act on behalf of both Seller and Buyer at the same time subject to certain restrictions. The contract that spells out the terms and conditions of the authority confered by a Seller to the real estate agent is called the Listing Agreement. With the Buyer, the name changes to Buyer's Agency Agreement.

    Based upon the wording of the contractual agreement between the principal and the agent, the authority to act confered upon the agent falls into one or more than one of the following categories. The agent's authority to act can be express, implied, , by ratification, , usual, and apparent, .

    Express Authority

    Express authority is the authority given by to the agent by the contract. The contract can be in writing or verbal. Real estate agents are given usually express authority under a Listing Agreement and here in British Columbia all listing agreements involving land or an interest in land ( such as a lease ) must be in writing in order to be enforceable, pursuant to the Real Estate Services Act . It must be understood that a listing agreement is not a contract to sell or otherwise convey an interest in land but, rather, an agreement by and through which one party ( the Agent ) agrees to market an interest in land and the other party ( the Principal ) agrees to pay a commission on completion.

    Implied Authority

    Even when precise words are used in the express authority, an agent may find himself in circumstances where the acts he wants to do are not covered by those words. It is sometimes possible to imply authority from the precise words. More specifically, an agent would have implied authority to carry out an act if the agent has no choice but to do it in order to fulfill his express authority. For example, a real estate agent's authority may be only to sell a certain parcel of land or a certain house for his principal. The agent may wish to show the property to prospective purchasers during the owner's absence. If the agent had no authority to do so both he and the prospective purchasers would be trespassers and, therefore, liable to the owner in damages. Because showing a property is necessary and incidental to effecting a sale, the agent can imply the authority proximately from his express authority, provided nothing in the contract states otherwise.

    Authority by Ratification

    Sometimes an authority can be created retroactively. For example, where an agent enters into a contract on behalf of his principal but the contract is beyond the agent's express authority, he can be given authority in the past. This is done by ratification. If the principal consents after the fact to be bound by the unauthorized acts of his agent, he has ratified the contract. The end result is, therefore, that the principal is bound by the contract just as if the agent had been so authorized in the first place.

    Usual Authority

    Usual authority arises when an agent is engaged by the principal to act in a particular transaction and such transaction is governed by 'customs of the trade' . In such case the principal is considered to have consented to the agent acting in accordance with such customs, as long as they are lawful and reasonable and the principal has not indicated otherwise.

    Apparent Authority

    Under certain circumstances, furthermore, an agent can bind his principal to a third party even though the agent was not authorized to do so. This arises where a principal has acted in such a way that he leads third parties t

    HTTP = HTML link (for blogs, profiles,phorums):
    <a href="http://www.atriclecheck.com/article/128917/atriclecheck-Fundamentals-of-Agency-Law.html">Fundamentals of Agency Law</a>

    BB link (for phorums):
    [url=http://www.atriclecheck.com/article/128917/atriclecheck-Fundamentals-of-Agency-Law.html]Fundamentals of Agency Law[/url]

    Related Articles:

    Is The Box Getting Too Small?

    Handshake Intimidation

    Internet Marketing Goals - The NUMBER ONE Basic Element YOU NEED To Be Successful

    Bookmark it: del.icio.us digg.com reddit.com netvouz.com google.com yahoo.com technorati.com furl.net bloglines.com socialdust.com ma.gnolia.com newsvine.com slashdot.org simpy.com shadows.com blinklist.com