Agency, Commission and Theatres

Question 1

The Law of Agency Revision And Its Importance - What’s an Agency

Answer 1

Agency is the relationship between two parties whereby one (the agent) is authorised by the other (the principal) to do, on the principal’s behalf, certain acts that which affect the principal’s rights and duties to third parties

Question 2

Under the law of agency, every agent is bound by the same protocols regardless of the industry - what are the protocals

Answer 2

Duty to follow the principals instructions
Duty to act in person
Duty to act in good faith
Duty to make full disclosure of any personal interest
Duty not to make a secret profit
Duty to exercise reasonable care and skill