Unit 1 - Agency

Principal knew what agent was doing and never stopped him until something went wrong. Held to have acquiesced.

Agent cannot represent his own authority

Agent cannot represent his own authority HOWEVER can if said spoken to principal about it ie got more authority

Ratification by P has retrospective effect

Ratification by P has retrospective effect

Less loss is needed for the enforcement of apparent authority than personal bar

ratification cannot happen if undisclosed principal

Principal must make informed choice to ratify

Principal must be in existence and have capacity to ratify

disclosure unnamed principal - choice whether to sue agent or principal

disclosure unnamed principal - question on whose credit did the third party rely on

disclosure unnamed principal - could find the principal but don't bother then can't hold them liable

disclosure unnamed principal - if you refuse to disclose the principal, agent is personally liable

Undisclosed principal - can go far without being an election on who to sue

Undisclosed principal - payment from insolvent estate is satisfaction of estate

Undisclosed principal - may be excluded in enforcing the contract if there was deceit

If agent does not say his signature is on behalf of the principal - personally liable

Strict liability as auctioneer sold wrong horse but did nothing wrong. Held liable

Mortgage fraud - solicitors not liable

Agent's duties - follow instructions

Agent's duties - Duty of reasonable care of competent member of profession

Agent's duties - don't act for more than one principal but if that's what is usually done it's okay

Agent's duties - avoid secret profits

Principal's Duties - remuneration

Principal's Duties - reimburse expenses incurred

Principal's Duties - relief from liability

Terminate agency by rescission for material breach