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IS A substituted agent is as good an agent of the agent as a sub-agent?
A substituted agent is as good an agent of the agent as a sub agent is incorrect statement. The general rule is that an agent can't delegate his authority and appoint another agent. An agent being delegates cannot transfer in authority or duties to another ; as per sec 19 an agent can't lawfully employ another to perform acts which he has express implied by undertake to perform personally unless by the ordinary custom of trade a sub agent may of form the nature of agency the agent must be appointed section 191, a "sub agent" is a person employed by an acting under the control of the original agent in the business of agency .
What is the difference between agent in authority from person in authority?
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What is the apparent authority of an insurance agent?
Apparent authority is a legal concept pursuant to which an agent can be found to have bound a principal (master) despite not having the actual authority to do so. If the principal gives to the agent certain indicia of authority (for example, business cards, a title, etc) that would lead a reasonable person to believe that the agent has the authority to bind the principal, and the principal did nothing to countermand it, the principal may be bound by the acts of the agent. This theory, put into the context of an insurer/insurance agent, is what is meant by the term.
What best describes the types of agency authority held by officers of a corporation?
express, implied, and apparent authority
What is express authority?
terms are spelled out clearly for both terms
What is the difference between sub-agent and co-agent?
Section 191 of Indian Contract Act 1872 defines that "a sub-agent is a person employed by, and acting under the control of, the original agent in the business of the Agency." A sub-agent may be a properly appointed one or an improperly appointed one. Where an agent, having authority to do so, appoints a sub-agent, he is known as a sub-agent properly appointed (sec. 192.) Where an agent without authority appoints a sub-agent, he is called a sub-agent improperly appointed. ( sec. 193.)When a sub-agent is properly appointed, he can represent the principal as regards to third parties. There is no privity of contract between the sub-agent and the principal. The agent would be responsible to the principal for the acts of the sub-agent. In case of a fraud or willful wrong, the sub-agent is also directly responsible to the principal.When the sub-agent is improperly appointed, the principal is not bound by the acts of the sub-agent. The agent would be responsible to the principal and third parties.A "Co-agent" or a "substituted Agent" is a person who is appointed by the agent to act for the principal in the business of agency with the consent of the principal.Section 194 enacts, "where an agent holding an express or implied authority to name another person to act for the principal, names another person accordingly, he is not a sub-agent, but a substituted agent for the principal"
Can a repo comp request a criminal warrant for a car?
The repossession agent is not a law enforcement agent, and has no such authority.
What is the difference between sub agent and substituted agent?
SUB AGENT.--------------Section 191 of Indian Contract Act 1872 defines that "a sub-agent is a person employed by, and acting under the control of, the original agent in the business of the Agency." A sub-agent may be a properly appointed one or an improperly appointed one. Where an agent, having authority to do so, appoints a sub-agent, he is known as a sub-agent properly appointed (sec. 192.) Where an agent without authority appoints a sub-agent, he is called a sub-agent improperly appointed. ( sec. 193.)When a sub-agent is properly appointed, he can represent the principal as regards to third parties. There is no privity of contract between the sub-agent and the principal. The agent would be responsible to the principal for the acts of the sub-agent. In case of a fraud or willful wrong, the sub-agent is also directly responsible to the principal.When the sub-agent is improperly appointed, the principal is not bound by the acts of the sub-agent. The agent would be responsible to the principal and third parties.SUBSTITUTED AGENT--------------------------A "Co-agent" or a "substituted Agent" is a person who is appointed by the agent to act for the principal in the business of agency with the consent of the principal.Section 194 enacts, "where an agent holding an express or implied authority to name another person to act for the principal, names another person accordingly, he is not a sub-agent, but a substituted agent for the principal"
A retailer that collects sales taxes is acting as an agent for the?
taxing authority.
What is contract of agency?
Agency law is concerned with any "principal-agent" relationship; a relationship in which one person has legal authority to act for another. The relationships generally associated with agency law include guardian-ward, executor or administrator-decedent, and employer-employee. Agency is an agreement, express, or implied, by which one of the parties (called the principal) entrusts to the other (called the agent), the management of some business; to be transacted in his name, or on his account, and by which the agent assumes to do the business and to render an account of it. As a general rule, whatever a man may do by himself, except by virtue of a delegated authority, he may do by a designated agent
What is the term for an agent who has very limited authority?
The agent may be serving under a Limited Power of Attorney. The agent would be called the attorney-in-fact under that POA.
TSA agent asking to check your personal belongings is an example of what?
Authority situation
