LAWS1100 Study Guide - Final Guide: Fiduciary, Independent Contractor, Secret Profit
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. 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, e. g. 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. Types of authority: ways in which an agent can be authorised to act on behalf of a principal include, actual authority, express actual authority.
