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implied Authority

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › implied Authority

  • This topic has 4 replies, 2 voices, and was last updated 3 years ago by MikeLittle.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • October 26, 2019 at 9:36 am #550849
    macmonie
    Member
    • Topics: 14
    • Replies: 14
    • ☆

    Respected Sir,
    sir i am stuck with implied Authority , Can u plz explain me what it exactly means. I would be a great pleasure sir

    October 26, 2019 at 9:39 am #550850
    macmonie
    Member
    • Topics: 14
    • Replies: 14
    • ☆

    Are apparent and ostensible Authority both the same sir?
    And sir can u plz explain me the meaning of these both
    it might help me a lot

    October 27, 2019 at 7:16 am #550931
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22829
    • ☆☆☆☆☆

    Authority maybe express or implied

    Express authority may be written or oral (written is preferred – it leaves no area of doubt)

    So if an agent is to have authority and it’s not express, it must be implied (or apparent / ostensible)

    Implied authority is where there is no express authority but authority may be implied from the nature of the agent’s activities or from what is usual / ordinary / necessary / customary in the circumstances

    Apparent and ostensible are taken to be the same – and pled don’t ask me to differentiate between them!

    These two occur when the principal holds out / suggests / implies / represents to a third party that the agent has authority even though this may not actually be the case

    It could even be the case that the ‘agent’ has not been appointed as such but the ‘principal’ allows a third party to believe that the ‘agent’ is properly acting as the ‘agent’ of the ‘principal’

    OK?

    October 27, 2019 at 7:24 am #550932
    macmonie
    Member
    • Topics: 14
    • Replies: 14
    • ☆

    Ok got it sir

    October 27, 2019 at 10:57 am #550978
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22829
    • ☆☆☆☆☆

    Good. Let me know when you hit the next wall and I shall get back to you

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