chapter 5 reading Flashcards
mandate
a contract between two persons by which the mandator empowers the mandatary to represent him in dealings with and outside party
mandatory can act on behalf
there is two contracts
–> between mandator and mandatary
–> between mandator and third party
can a verbal agreement be sufficient to make a mandate=?
ye
express acceptance
when the party signs the contractual agreement when a written contract of a mandate exists
or
proving verbal agreement ion a contract of a mandate
gratuitous mandate
mandatary receives no compensation
onerous mandate
mandatary receives compensation
the scope of a mandatary’s tasks
should be the same of the mandator
obligations of the agent towards the mandator
prudence and diligence
honesty and faithfulness
subsiititute mandatary
double mandate
confidential information and property
mandatary as contracting party
prudence and diligence
mandatary has a duty to act with prudence and diligence in the performance of the mandate
acting in reasonable manner
perform at best of abilities
honesty and faithfulness
agent should always have mandatory’s interests in mind and ahead of own
subsiititute mandatary
agent can choose another person to act on mandator’s behalf only with the latter’s approval
–> only exception is in cases of urgency
responsible for whatever the sub agent does
double mandate
a situation where an agent is acting as the representative of two parties to a transaction whose interests should conflict
must let both the mandator’s of each party know
confidential information and property
agent may not use for his one benefit any property or information that he receives win carrying out his mandate unless he has mandator’s permission
deals with physical property and non-physical information
mandatary as contracting party
agent may not directly or indirectly become a party to the transaction that he has agreed to perform for the mandator unless the latter approves or its aware beforehand
obligations of the mandator towards the agent
expenses and remuneration
ratification
expenses and remuneration
mandator has an obligation to cooperate with the agent to facilitate the performance of the mandate, to reimburse reasonable expenses, and to pay the remuneration that the agent is entitle to receive