4 - agency

Question 1

which relationship must agency be created by deed

Answer 1

if the agent is to execute a deed on the principals behalf

Question 2

what is agency by estoppel

Answer 2

when the words of the principal give the impression to a third party that an agent is acting, and the third party acts on this

Question 3

what is agency by necessity

Answer 3

if a person is faced with an emergency and the agent has to act in order to preserve their interests

Question 4

what are four things that need to proven for agency by necessity

Answer 4

the agent had no practical way of contacting the principal
their actions arose from a pressing need for action
they acted in good faith
their action was reasonable in the circumstances

Question 5

what is ratification

Answer 5

validating past acts of agency

Question 6

what are the three conditions for ratification

Answer 6

• the principal must have been in existence at the time of the act
• the principal must have the legal capacity to make contracts both at the time the act was carried out and at the time of the ratification
• at the time of the contract, the agent must have named or identified the principal