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Cover Introduction to Business Law

10. The Law of Agency  

This chapter begins by defining agency—the relationship which exists between the agent and the principal—and considers the legal relationships created between an agent, his principal, and a third party. It then discusses the different methods by which an agency relationship may be created. The chapter explains the extent of an agent’s authority, the power of an agent to bind his principal, and the rights and duties of an agent. The relationship between agent, principal, and third party is explored and the different rules relating to disclosed and undisclosed agencies. Finally, the termination of an agency relationship is considered and examples of different types of agencies highlighted.

Chapter

Cover Card & James' Business Law

5. An introduction to the law of contract  

This chapter provides an introduction to the law of contract. It discusses several preliminary pre-contractual issues and explains that though most contracts do not require formalities, a number of important ones impose certain requirements and failure to comply may render the contract unenforceable. The ability of persons to enter into contracts (that is, their capacity) is also discussed where it is noted that certain persons cannot enter into legally binding contracts. The chapter also clarifies why contracts are enforced. This chapter also discusses the rules governing privity of contract and considers the role of third parties in enforcing a contractual term via statute and common law principles.