Agency and insurance Law - Case Study Example

Only on StudentShare

Extract of sample
Agency and insurance Law

Drew and Bev are employed by Kirk as his sales assistant in his business of selling building and decorating supplies and related products hence they are his agent. An agent is a person employed expressly to do any act for another or to represent another in dealing with a third party.The work of an agent is to linking the principal with a third party bringing about a contractual relation between his principal and a third party. (Saleemi, 1992)Eileen runs a large office went to Kirk firm to make a big order of 1000 potted plants. He was served by Drew, one of the sales assistant in Kirk firm. Drew informed her that the price for the potted plant was 20 per plant. Just to be sure about it, Eileen requested to confirm about the price from Kirk, his boss. Kirk told Eileen that he had authority to make such an agreement on his own but he would confirm about this particular order with his boss.Drew went to the back of the office out of Eileen's sight and returned saying he had confirmed the deal with his boss. Drew did not confirm about this order with Kirk since he was on phone but Eileen believed him.Kirk is liable for the contract entered by Drew and he should not escape the contract. Drew as Kirk's sales assistant is presumed that there is creation of agency between them by express agreement. Hence Drew possesses a contractual capacity to make a contract with a third party on behalf of his principal which is binding. Eileen believed that even though Drew had no capacity to make sales agreement for big order, he confirmed about the sale when he visited their premises and Drew confirmed this from Kirk at the back of the shop out of her sight. ...Show more


Drew and Bev are employed by Kirk as his sales assistant in his business of selling building and decorating supplies,hence they are his agent.An agent is a person employed expressly to do any act for another or to represent another in dealing with a third party…
Author : shyannmayer
Save Your Time for More Important Things
Let us write a custom case study on your topic
"Agency and insurance Law"
with a personal 20% discount.
Find out more

Related Essays

One of the major risks is the risk of perils of the sea. Hull & Machinery insurance provides cover to the ship owners for the risk of perils of the sea. These risks include the risks that are incidental to the case of a breakout of war. In some ways, Hull and Machinery insurance is similar to property insurance in which as it covers the ship itself, its machinery and equipment.
20 pages (5000 words) Coursework
Moreover, from the perspective of individual parties transporting goods via vessels, insurance coverage under P&I insurance policies is important for mitigating against any damages or loss of value or actual loss of the goods transported. H&M together with P&I provide complimentary safeguards for the carriage of goods and people by sea and provides all parties involved with a degree of reassurance that the risks that necessarily accompany the movement of people and goods at sea and the damages suffered at sea, will be covered regardless of the shipowners or the charterparty’s inability to satisfy any resulting claims.
20 pages (5000 words) Coursework
Agency and partnershipl law assessed coursework
Introduction The acts of an agent will be obligating a principal if such act falls within the agents ‘real or ostensible or apparent authority. If an unauthorised act is done by an agent which was later ratified by the principal, then such unauthorised acts by an agent will be binding the principal.
7 pages (1750 words) Essay
Law of Agency
Laws are essentially made to control the behaviour of the people. If we see this practically, laws are meant to check the evil side of the human mind, which forces people to commit negative things harmful for any society and/or country. Agency is a relationship between two parties based upon an express or implied agreement whereby one person, called the agent, is authorised to act for another, called the principle, in transaction with third parties.
16 pages (4000 words) Essay
Agency and partnership law
The general rule applies where the agent's contract was authorised, either in advance, or after the fact by ratification; the position may be different where the agent has apparent but not actual authority. It would also be reasonable to conclude Andrew's act as the best available option, given his rights, to confirm the order even prior to receiving verbal or written confirmation from ADC.
14 pages (3500 words) Case Study
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email