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9 Cards in this Set
- Front
- Back
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DISCLOSED PRINCIPAL
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One whose existence the TP is aware at the time of contracting with the agent.
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Types of Disclosed Principal
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~An identified principal. This means TP knows the identity of person w/ whom he is contracting (via agent) at the time contract is made.
~An unidentified principal. Means TP knows agent is acting on behalf of another person but does not know the identify of the other person. |
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Results of Identified Principal
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where agents act within scope of his authority (actual or ostensible:
~Direct contractual relations will be established between the principal & TP ~A is not generally liable on the transaction to TP unless he agrees (expressly or through trade custom) ~Only principal can sue or be sured on the contract. |
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However Comerford v Brittanic [1908] |
Where the agent acts w/o authority, and there is no ratification, the principal will incur no liability to the TP.
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UNDISCLOSED PRINCIPAL
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Where a TP does not know that an agent is acting on behalf of another person because that fact has not been disclosed.
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TP Has choice ( a right of election)
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~General rule - provided A acted within scope of authority both the real P and agent may be sued or sued on the contract.
~If P reveals agency relationship to the TP, the TP may either treat the agent w/ whom he contracted as the principal or accept the true principal, in which case the agent is relieved of his obligation to the TP. |
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EXCEPTION TO RULE: Disclosed princpal privy to contract made by A within scope of Authority
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1.Where deed is inter partes the principal will not be able tO sue and be sued unless he is described in deed as party to contract and deed is executed till his name (Re Intl Contract Co [1871]
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Moody v Condor Insurance Ltd [2006]
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principal can sue on it if he is a covenantee
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What Constitutes Ratificaton
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~Ratification may be express or implied, and may be by words or conduct
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