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Lecture 3

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York University
Administrative Studies
ADMS 2610
Robert Levine

SOME NOTES ABOUT AGENCYNOTE The following notes are in addition to the section on Agency in your text THE PARTIES The parties involved in agency are the principal agent and a third partyTYPES OF AGENCY Generally speaking the first kind of agency is one where the principal retains the services of an agent to effectmake some sort of contract between the principal and the third partyThis is usually done by a direct contract between the principal and the agent A the principal enters into an agency contract with the agent who is an independent contractor whose business is to effect contracts for others or by the type of relationship between the principal and the agent normally one of employeremployee partneragent A the principal is the employer of B and authorizes B to enter into a contract with a third party in order to do businessHere we can say that B is both the employee and agent of A A a partner in a general partnership composed of A B C and D enters into a contract with a supplier for goods to be used by the partnershipHere we can say that A is the agent for all of the other partners and for the partnershipTYPES OF AGENCY CONTRACTS Agency arises by either oral or written contract and where the principal enters into a contract with an agent the terms of the contract spell out what exactly the agent can do in relation to a third partyAnother way of saying this is that the contract specifically tells the agent what kind of contract the principal wants the agent to procure for himher with a third party Here we say that the contract between the principal and agent sets out the agents express authority to enter into a contract with the third party on the principals behalfThus an agent who is an independent contractor is expressly retained to effect a contract with a third party for the principal or the employees job is to effect contracts with third parties for his employerCopyright Robert Levine
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