Bill Bartlett
LAW531
October 1, 2012
Bill Eshelman
Contract Creation and Management-The Nature of Agency
This paper outlines the reasoned principles in The Nature of Agency video presenting skip formation in a small business. The vendor, Non-Linear Pro filed suit against Quick Takes moving-picture show to ingest money it claims to be owed for a short-term lease. Quick Takes goggle box procured a new video editing system on a three-month lease because the system did not live up to expectations and promises from the Non-Linear Pro sales representative, the company returned the equipment. During the equipment delivery Janet an employee of Quick Takes Video mistakenly signed a three-month lease agreement thought process it was a shipping confirmation. The management of Quick Takes Video called their legal counsel and discovered that it may be reasonable to live with by a third party that Janet had the authority to write down into a contract on behalf of the organization.
Contract Formation
Contracts are impulsive agreements between two parties where one party makes an offer that is recognized by the other party.
Without mutual assent, there is no contract (Cheeseman, 2010). Express means is the most common form of agency in which the constituent has the authority to contract or otherwise act on the principals behalf, as expressly stated in the agency agreement (Cheeseman, 2010). In addition, the agent may also possess certain implied or evident authority to act on the principals behalf (Cheeseman, 2010).
gear up Authority
To mitigate risks a business owner inescapably to congeal clearly the responsibilities and authority that each employee holds. The business owner needs to state clearly those individuals that have authority to enter into a contract on the organizations behalf and clearly state that a...If you want to admit a full essay, order it on our website: Orderessay
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