Lecture 8 BFA601 Semester 1 2018.pptx

The court had to decide whether the defendant company

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The court had to decide whether the defendant company could be taken to have authorised the transaction. It was held that the defendant company was liable because in appointing a company secretary, the defendant company was representing that the secretary so appointed had authority to enter into these transactions with which company secretaries were usually concerned. The hiring of motor vehicles was part of company administration. AGENCY Panorama Developments (Guildford) v Fidelis Furnishing Fabrics Ltd [1971] . AGENCY Panorama Developments (Guildford) v Fidelis Furnishing Fabrics Ltd [1971] .
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© 2014 Reed International Books Australia Pty Limited trading as LexisNexis If the principal ratifies the agent’s actions: this can be done retrospectively Principle of the undisclosed principal: if the third party later discovers the existence of the principal Cohabitation: married couples may be liable for each other’s actions AGENCY Liability of principal for and agent’s actions (2.35) AGENCY Liability of principal for and agent’s actions (2.35)
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© 2014 Reed International Books Australia Pty Limited trading as LexisNexis Necessity: an emergency may require someone to act on behalf of the owner of property Great Northern Railway Co v Swafeld (1874) The principal will be liable for the actions of their agent, eg with vicarious liabilty for any wrongdoing such as a tort AGENCY Different types of Agents (2.35) cont. AGENCY Different types of Agents (2.35) cont.
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© 2014 Reed International Books Australia Pty Limited trading as LexisNexis An agent is not liable to the third party, except where: they agree to do so; trade, customary practices or usage means the agent will be personally liable, e.g. stockbroker when buying and selling; the agent personally signs a bill of exchange; the principal does not exist; the agent exceeds their authority; and the agent does not disclose that they are an agent; if the principal does not later ratify the contract then the agent remains liable. AGENCY To the Third Party (2.36) . AGENCY To the Third Party (2.36) .
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© 2014 Reed International Books Australia Pty Limited trading as LexisNexis An agent may be authorised to do just one thing, or given wide discretion or powers An agent may be personally liable where they do something which is not authorised, the principal may sue them An agent may be in breach of a warranty of authority where they misrepresent their authority AGENCY What is an agent authorised to do? (2.37) AGENCY What is an agent authorised to do? (2.37)
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© 2014 Reed International Books Australia Pty Limited trading as LexisNexis Note the consumer under the ACL Misrepresentation is an offence: s 18(1) False and misleading representations as to goods and services is prohibited: s 29(1) AGENCY What is an agent authorised to do? (2.38.) cont.
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  • Reed International Books, International Books Australia, Books Australia Pty, Pty Limited trading, Reed International Books Australia Pty Limited

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