Forums › ACCA Forums › ACCA LW Corporate and Business Law Forums › Agency Law
- This topic has 4 replies, 4 voices, and was last updated 13 years ago by mrjonbain.
- AuthorPosts
- November 11, 2011 at 2:09 am #50425
can you indicate what are the rights of an agent…i noted somewhere a question like this for 10 marks…so i was wondering how i can state an answer like this to atleast get 75% marks
November 11, 2011 at 6:44 am #89546It depends massively on who he is an agent for…
November 12, 2011 at 2:57 pm #89547well there must be like a standard set of rights that can be used. i highly doubt they would get that in-depth
November 12, 2011 at 3:29 pm #89548the answer is not only about his rights. you should look closely into the practice and revision kit.
You should start with stating who the agent is, basing on what he can represent his principal and than what are his rights according to his implied authority, express authority etc.
November 16, 2011 at 10:37 am #89549I agree with the above posters that the topic as a whole has to be considered when considering the rights of an agent. However, the general rights of an agent are a right to remuneration and reimbursement connected with acting as an agent for the principal unless rebutted by the agency agreement, a right to be relieved of liabilities connected with acting in their capacity as an agent for the principal and a right to exercise rights of lien or security over goods or assets if not remunerated or reimbursed by the principal in their capacity as an agent for the principal.
It is important to bear in mind that the above “rights” are conditional on a number of factors such as whether or not an agency relationship ever actually existed, whether or not the agent acted within their authority in their capacity as an agent, whether or not the agent conducted their duties as an agent (a similar set of general duties an agent should carry out exists in parallel with their presumed set of rights), whether the or not the agent was negligent in carrying out their duties as an agent and lastly and in some ways most importantly what the agency agreement states about the rights of the agent as long as it is contractually valid.
I hope the above is of some use to you. Please post back if you want more information about an agents rights or about agency generally. - AuthorPosts
- You must be logged in to reply to this topic.