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What is a labor agent?
A labor agent might be a person who makes sure that a company has enough labor to complete the job at hand. A labor agent might also be a person who deals with a particular union for an industry.
What does indent sales mean?
An order with specified conditions that is placed by a buyer to a supplier through a local or foreign agent and which constitutes to a sale once the supplier agrees to the specifird conditions.
What is stevedore operations?
Stevedore Operations is the specialized total operation for loading, stowing, securing, tally and later discharge of the cargoes including the use of suitable gears, lifting crane and machinery. The responsibility is hook to hook and works under its direct risk and responsibility and the supervision of the Ship owner represented by the Captain/Attending Ship Officer or the Agent despite whatever term the cargo is carried. Sarajun Hoda - MOSARA stevedores MALAYSIA
In what kind of furance is iron produced?
Iron is primarily produced in a blast furnace, where iron ore, coke, and limestone are combined and heated to high temperatures. The coke serves as a fuel and a reducing agent, while limestone helps remove impurities. The intense heat causes the iron ore to melt, allowing the iron to be separated from the slag and impurities. This process results in molten iron, which can be further processed into steel or other iron products.
How do you produce sponge iron powder?
Sponge iron powder is produced through the direct reduction of iron ore, typically using natural gas or coal as a reducing agent. The iron ore, often in the form of pellets or lumps, is heated in a reduction furnace at temperatures around 800-1,200°C, where it undergoes a chemical reaction that removes oxygen, resulting in sponge iron. This spongy material is then further processed and milled to produce fine iron powder. The final product is characterized by its high purity and low impurities, making it suitable for various applications in metallurgy and powder metallurgy.
How do you sign as Power of Attorney?
Disclose your identity as an agent whenever you act for the principal by writing or printing the principal's name and signing your own name as "agent" in the following manner: (Principal's Name) by (Your Signature) as Agent, or (Your Signature) as Agent for (Principal's Name).
What is a substituted agent?
Sub-agent and substituted agent: The general rule is that an agent cannot delegate his authority and appoint another agent. (Delegatus non potest delegare). An agent being delegate cannot transfer his authority or duties to another. As per Section 190, an agent cannot lawfully employ another to perform acts which he has expressly or impliedly undertaken to perform personally unless by the ordinary custom of trade a sub-agent may or from the nature of the agency, the agent must be appointed. According to Section 191, a "sub-agent" is a person employed by and acting under the control of the original agent in the business of agency. The relation of the sub-agent and the original agent is as between themselves that of the agent and the principal. Where a sub-agent is properly appointed, the principal is so far as regards third parties represented by the sub-agent and is bound by and responsible for acts as if he were an agent originally appointed by the principal. The agent is responsible to the principal for the acts of the sub-agent. The sub-agent is responsible for his acts to the agent, but not to the principal except in case of fraud or wilful wrong. (Section192) There is no privity of contract between the sub-agent and the principal and, hence, sub-agent is not directly responsible to the principal except in cases of fraud or wilful wrong. If the sub-agent is properly appointed, the principal is liable to third parties for the acts of the sub-agent. If the sub-agent is appointed without proper authority, the principal is not represented by or responsible for the acts of the sub-agent and sub-agent is not responsible to the principal. As between the agent and the sub-agent, the relationship is that of the principal and agent and the agent is responsible for the acts of such sub-agent and both to the principal and to third parties (Section 193). Substituted agent: Where an agent holding an express or implied authority to name another person to act for the principal in the business of the agency has named another person accordingly, such person is not a sub-agent, but an agent of the principal for such part of the business of agency as is entrusted to him. (Section194). Where the agent has authority to appoint an agent and the person so appointed is in the nature of a substitute for the original agent, the contract arises between the principal and the substitute and the substituted agent becomes responsible to the principal for the due discharge of the duties as if he is appointed by the principal himself. According to Section 195, in selecting substituted agent for his principal an agent is bound to exercise the same amount of discretion as a man of ordinary prudence would exercise in his own case; and if he does so, he is not responsible to the principal for acts or negligence of the substituted agent so selected. Sub-agent and substituted agent: The general rule is that an agent cannot delegate his authority and appoint another agent. (Delegatus non potest delegare). An agent being delegate cannot transfer his authority or duties to another. As per Section 190, an agent cannot lawfully employ another to perform acts which he has expressly or impliedly undertaken to perform personally unless by the ordinary custom of trade a sub-agent may or from the nature of the agency, the agent must be appointed. According to Section 191, a "sub-agent" is a person employed by and acting under the control of the original agent in the business of agency. The relation of the sub-agent and the original agent is as between themselves that of the agent and the principal. Where a sub-agent is properly appointed, the principal is so far as regards third parties represented by the sub-agent and is bound by and responsible for acts as if he were an agent originally appointed by the principal. The agent is responsible to the principal for the acts of the sub-agent. The sub-agent is responsible for his acts to the agent, but not to the principal except in case of fraud or wilful wrong. (Section192) There is no privity of contract between the sub-agent and the principal and, hence, sub-agent is not directly responsible to the principal except in cases of fraud or wilful wrong. If the sub-agent is properly appointed, the principal is liable to third parties for the acts of the sub-agent. If the sub-agent is appointed without proper authority, the principal is not represented by or responsible for the acts of the sub-agent and sub-agent is not responsible to the principal. As between the agent and the sub-agent, the relationship is that of the principal and agent and the agent is responsible for the acts of such sub-agent and both to the principal and to third parties (Section 193). Substituted agent: Where an agent holding an express or implied authority to name another person to act for the principal in the business of the agency has named another person accordingly, such person is not a sub-agent, but an agent of the principal for such part of the business of agency as is entrusted to him. (Section194). Where the agent has authority to appoint an agent and the person so appointed is in the nature of a substitute for the original agent, the contract arises between the principal and the substitute and the substituted agent becomes responsible to the principal for the due discharge of the duties as if he is appointed by the principal himself. According to Section 195, in selecting substituted agent for his principal an agent is bound to exercise the same amount of discretion as a man of ordinary prudence would exercise in his own case; and if he does so, he is not responsible to the principal for acts or negligence of the substituted agent so selected.
How Do you resign as a medical power of attorney?
An agent may resign by giving notice to the principal, to the guardian if the principal is incapacitated and one has been appointed for the principal, and to any co-agent, or if none, the next successor agent.
How would you describe the principal-agent model of relationships?
The principal-agent model involves a principal delegating tasks or decision-making to an agent to act on their behalf. The challenge arises from the divergence of interests between the principal and agent, leading to potential conflicts, information asymmetry, or moral hazard. Incentive alignment mechanisms, such as contracts or monitoring, are typically used to mitigate these issues and align the agent's actions with the principal's objectives.
Weather a principal can cancel the general power attorney with out giving notice to the agent?
A principal can certainly cancel the general power of attorney without giving notice to the agent, but if notice is not given the agent might continue to act upon the principal's behalf. If the agent does continues to act without being told he shouldn't his actions for the Principal will still be effective against the Principal and the agent will not be held to have done anything wrong. The problem is that the agent will be acting with "apparent authority", which will be just as binding on the Principal as if the POA had never been revoked.
Who is the principal for whom a real estate broker works?
A real estate broker has only one fiduciary duty and that is to his or her client, also known as the principal. Real estate agents act as the broker's representatives -- always. In every part of a real estate transaction, he or she is the broker's agent. Therefore, despite the fact that the agent may have procured the client, he or she did so as the broker's representative. Therefore, the only principal for whom a broker works is the client -- the home buyer or seller.
What are the key responsibilities and duties of both the principal and agent in a typical principal-agent relationship?
In a typical principal-agent relationship, the principal is responsible for giving instructions and providing resources to the agent to carry out tasks on their behalf. The agent is responsible for acting in the best interest of the principal, following their instructions, and keeping them informed of progress and any issues that arise. Both parties have a duty to act in good faith and with loyalty towards each other.
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"
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.
Liabilities of an agent principal and third party in an agency relationship?
In an agency relationship, the principal is liable for obligations incurred by the agent within the scope of their authority. The agent, in turn, is liable to the principal for any unauthorized actions or breaches of duty. Third parties can hold the principal accountable for the agent's actions if they were acting within their authority; however, if the agent exceeds their authority, they may be personally liable to the third party. Overall, liability depends on the actions taken by the agent and the extent of the authority granted by the principal.
How do you sign as a power of attorney?
Disclose your identity as an agent whenever you act for the principal by writing or printing the principal's name and signing your own name as "agent" in the following manner: (Principal's Name) by (Your Signature) as Agent, or (Your signature) as Agent for (Principal's Name).
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"
