Termination of Agency
ALPHA COLLEGE OF TECHNOLOGY
COLLABORATION WITH
INTERNATIONAL UNIVERSITY COLLEGE OF TECHNOLOGY TWINTECH
SUBJECT NAME: BUSINESS LAW
SUBJECT CODE: LAW2013
TERMINATION OF AGENCY
PREPARED BY:
NAME: MOHAMAD AL-HAFIZ BIN SALLEH MATRIC NO.: 10071260
NAME: SITI RAHIMAH BINTI RAZMAN MATRIC NO.: 10071260
NAME: NURUL ASHIKIN BINTI MD. YUSOF MATRIC NO.: 10071260
NAME: KHATIJAH BINTI AHMAD MATRIC NO.: 10071260
NAME: LYANA NADIA BINTI SALAHUDIN MATRIC NO.: 10071260
SEMESTER 4 2011/2012
ABSTRACT
An agent's authority can be terminated at any time. If the trust between the agent and principal has broken down, it is not reasonable to allow the principal to remain at risk in any transactions that the agent might conclude during a period of notice. An agency may come to an end in a variety of ways: (i) by the principal revoking the agency – However, principal cannot revoke an agency coupled with interest to the prejudice of such interest. Such Agency is coupled with interest. An agency is coupled with interest when the agent himself has an interest in the subject-matter of the agency, e.g., where the goods are consigned by an upcountry constituent to a commission agent for sale, with poor to recoup himself from the sale proceeds, the advances made by him to the principal against the security of the goods; in such a case, theprincipal cannot revoke the agent’s authority till the goods areactually sold, nor is the agency terminated by death or insanity. The principal also cannot revoke the agent’s authority after it hasbeen partly exercised, so as to bind the principal, though he can always do so, before such authority has been so exercised.
Further, as if the agency is for a fixed period, the principal cannot terminate the agency before the time expired, except for sufficient cause. If he does, he is liable to compensate the agent for the loss caused to him thereby. The same rules apply where the agent, renounces an agency for a fixed period. Notice in this
COLLABORATION WITH
INTERNATIONAL UNIVERSITY COLLEGE OF TECHNOLOGY TWINTECH
SUBJECT NAME: BUSINESS LAW
SUBJECT CODE: LAW2013
TERMINATION OF AGENCY
PREPARED BY:
NAME: MOHAMAD AL-HAFIZ BIN SALLEH MATRIC NO.: 10071260
NAME: SITI RAHIMAH BINTI RAZMAN MATRIC NO.: 10071260
NAME: NURUL ASHIKIN BINTI MD. YUSOF MATRIC NO.: 10071260
NAME: KHATIJAH BINTI AHMAD MATRIC NO.: 10071260
NAME: LYANA NADIA BINTI SALAHUDIN MATRIC NO.: 10071260
SEMESTER 4 2011/2012
ABSTRACT
An agent's authority can be terminated at any time. If the trust between the agent and principal has broken down, it is not reasonable to allow the principal to remain at risk in any transactions that the agent might conclude during a period of notice. An agency may come to an end in a variety of ways: (i) by the principal revoking the agency – However, principal cannot revoke an agency coupled with interest to the prejudice of such interest. Such Agency is coupled with interest. An agency is coupled with interest when the agent himself has an interest in the subject-matter of the agency, e.g., where the goods are consigned by an upcountry constituent to a commission agent for sale, with poor to recoup himself from the sale proceeds, the advances made by him to the principal against the security of the goods; in such a case, theprincipal cannot revoke the agent’s authority till the goods areactually sold, nor is the agency terminated by death or insanity. The principal also cannot revoke the agent’s authority after it hasbeen partly exercised, so as to bind the principal, though he can always do so, before such authority has been so exercised.
Further, as if the agency is for a fixed period, the principal cannot terminate the agency before the time expired, except for sufficient cause. If he does, he is liable to compensate the agent for the loss caused to him thereby. The same rules apply where the agent, renounces an agency for a fixed period. Notice in this
Bibliography: Australian Case Law. (n.d.). Retrieved March 01, 2012, from http://www.australiancontractlaw.com/cases.html Commercial Law Hitomization. (2007, December 25). Business Law Tutirial 11. Retrieved Febuary 29, 2012, from Business Law: http://hitomi5.blogspot.com Irrevocable Authorities Pheng, l. M., & Ivan, J. D. (2009). Business Law. Selangor: Oxford University Press. [ 2 ]. (1848) 5 CB 985 [ 3 ] [ 4 ]. See Gibbons v Wright (1954) 91 CLR 423, High Court Australia [ 5 ]