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law.docx - Issues Did Sylvester breach his duties to...

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Issues Did Sylvester breach his duties to Veronica? who is liable? Did Bob have authority to sell the painting to Angela, who is liable for Angela bob or Sylvester? Law All issues are involved in the law of agency, therefore they will be addressed simultaneously. Whether the principal is bound depends on whether he or she conferred authority on the agent. An agency can be defined as an agreement by one person (The principal) in terms of which he or she confers authority on another (the agent) to make contracts with third parties on his or her (the Principal’s) behalf (CSU LAW220 Modules, 2017, topic 2). An agency is a special type of contract for two major factors; 1. In a partnership, each partner is an agent of all the others 2. Only someone who is an agent of a company can bind it 3. To establish if the principal is bound, the type of authority present needs to be determined. Actual authority, ostensible authority or authority of necessity. Actual authority is expressed orally or in writing by the principal or implied. Implied being the authority of an agent to
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