Class notes
Contract LAW
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NOTES ON LAW OF CONTRACTS
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Definition of an Agency• Gibson defines a contract of agency as a contract whereby one
person (the agent) is authorized and usually required by another
person (the principal) to contract or negotiate a contract on the latter’s
behalf with a third person.
Different kinds of Agents
• Auctioneers
• Brokers
• Estate agents
• Empowered and unempowered agents
Different kinds of principals
• Named principal (identity & existence)
• Unnamed principals (Existence only)
• Undisclosed principals
Creation (establishment) agency
1. Actual authority
Expressed or implied
Formalities of alienation of land (written & written by principal)
2. Residual provisions
Provided and imposed by law
General application
• Necessary powers
• Usual powers
• Emergency powers
• The principal did not contemplate or did not forget to provide
for the situation
• It was not practically possible to communicate with the
principal or ascertain his wishes before the emergency
action was taken
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