The Termination of the Power To Act as Agent on Behalf of a Principal

Question 1

What are the ways in which the power to act as agent on behalf of a principal may be terminated?

Answer 1

1. Performance
2. Effluxion of time
3. Supervening Impossibility of Performance
4. Agreement
5. Revocation by the principal
6. Renunciation by the agent
7. Death
8. Insolvency
9. Declaration of insanity

Question 2

What is the leading case on performance?

Answer 2

Martin v Currie.

Question 3

What case deals with effluxion of time?

Answer 3

National Board v Estate Swanepoel.

Question 4

What is revocation by the principal?

Answer 4

The principal may summarily revoke an agent’s authority to act on their behalf, if the act in question has not yet been performed.

Question 5

What are the requirements for revocation by the principal:?

Answer 5

Must be communicated to the agent and any interested 3rd parties.

Question 6

Which case deals with revocation by the principal?

Answer 6

Firs Investment v Levy Bros