0
What else can I help you with?
Agency by estoppel?
Legally binding agency relationship that may arise where, in fact, no formal agency agreement is in effect. A principal may give an appearance of agency relationship by, for example, furnishing his or her firm's call cards or other stationery to the agent. In such cases, the existence of an agency may be presumed, and the principal may be bound by the acts of the agent performed on the principal's behalf. Also called presumption of agency
Under what circumstances would an agency relationship not be terminated by a breach of contract?
An agency relationship may not be terminated by a breach of contract if the breach is minor and does not significantly impact the ability of the agent to fulfill their duties. Additionally, if the parties agree to continue the relationship despite the breach, the agency relationship may not be terminated.
What are three way from which hypotheses may arise?
Three ways a hypothesis may arise are: 1.) Prior knowledge 2.) Logical inference 3.) Informed, creative imagination
What is an example of a problem that can arise in a cost plus contract?
A contractor may even try to double-count a cost item by including it as a direct cost of the contract and as a part of an indirect cost pool allocated to the contract.
Describe three possiable ways in which a hypothesis may arise?
From tests. From curiosity. and from prior knowledge
What are three ways that a hypothesis may arise?
Prior knowledge, logical inferences, and informed/creative imagination
What are two ways that a contract may be discharge by operation of law?
frustration, bankruptcy
Can a collection agency charge interest on an account they bought and do you have to pay them since you never entered into a contract with them?
Sorry but yes they can. In the original contract there was a clause about what actions could be taken if you defaulted on the agreement and one of those actions is that the account could be turned over to a collection agency. So, even though you didn't directly enter into a contract with the collection agency you agreed to abide by the contract and the collection agency now legally owns the contract. It works the same way as when you purchase a house. At some point the original lender on a house may sell the contract and you will be paying a different lender.
If a partnership is set up and operated without a formal partnership agreement problems such as the following may arise?
Partnerships should always be set up using a contract that is signed by both parties. Many problems may arise without this being done. To know which of the following problems may arise a person will need to know what the following problems are.
What are the consequences that one would face in breaking an open modeling contract?
It all depends on the agency and what is stated in the contract, which is why it is important to read your contract before signing it. The most common consequences of breaking a modeling contract include automatic termination from the agency or legal action. But it also depends on what you mean by "open." There is no such thing as an open modeling contract...you may be thinking of a non-exclusive modeling contract, which allows models to sign with other agencies.
What are the different methods of creating an agency?
methods are as follows.... 1- Agency by consent Consent may be express or implied. An agency can be expressly created either orally or in writing. There is only one exception to this, which is that if the agent is to execute a deed on the principal's behalf (for example a conveyance of land or a lease exceeding three years) then the agency must be created by deed. Essentially this means that the agent is given a power of attorney. 2-Agency by estoppel (or 'holding out') Agency by estoppel arises by operation of law and is no less effective than an agency expressly created. It arises ` When the words or conduct of the principal give to a third party the impression that the person who purports to contract with the third party is the agent of the principal, and ` The third party, as a result, acts upon this. The principal is 'estopped', or prevented, from denying the existence of the agency 3-Agency of necessity An agency of necessity is another way in which an agency can arise by operation of law. Its origins can be found in mercantile law, and in shipping law in particular. It may arise where a person is faced with an emergency in which the property or interests of another person are in imminent jeopardy and, in order to preserve that property or those interests, it becomes necessary to act for that person without his authority. An agency of necessity probably only applies where there is already some existing contractual relationship between the parties, as the law is highly unlikely to allow a person to be bound by the act of a complete stranger. 4-Ratification In certain circumstances the relationship of principal and agent can be created or extended with retrospective effect, that is, once the contract has been entered into by the agent and third party. Ratification only validates past acts of the purported agent. It gives no authority for the future. Thus, where A makes a contract on behalf of P at a time when A has no authority from P, P may later ratify the contract. This will have the retrospective effect of establishing an agency as at the time the contract was made. All parties are then in the same position as if the principal had been the original contracting party, ie the principal may sue or be sued by the third party and the agent no longer has any liability.
Who is the indemnifying party in the contract and what liabilities are they responsible for?
The indemnifying party in a contract is the party that agrees to compensate the other party for any losses, damages, or liabilities that may arise from the contract. They are responsible for covering the costs and damages incurred by the other party due to breaches of the contract or other specified events.
