Hanson :: essays research papers

. What kind of assurance did he have?What were his limitations?Was the principle disclosed?Is there a hesitation of interpretation?Is the principal bound by the agents statements?Tests 1. An agency is a kindred based on an chat or implied agreement by which 1 person, the agent, is authorized to act under the control of or for another, the principle, in negotiating and devising contracts with third persons.2. A general agent is authorized by the P to transact all affairs in connection with a bad-tempered kind of business/ trade.3. The usual method of creating an agency is by express authorization, that is a person is appointed to act for, or on behalf of another.**A majority of states, by statute, require the appointment of an agent to be in writing when the agency is created to acquire/dispose of every interest in land4. An A. has implied incidental authority to perform any act reasonably necessary to execute the express authority given to the A.**3rd persons should experie nce that a contract made with an officer of a private corp. whitethorn not be binding unless ratified by the P.5. When the A, makes know the identity operator of the P. and the fact that the A is acting on behalf of that P., the P is disclosed.6. To avoid any question of interpretation, an A should execute an instrument by signing the Ps name and either By or Per and the agents name7. A P. is bound by a statement made by an A. duration transacting business within the scope of authority. This means that the P cant later contradict the statement of an A and show that it is not true.Application The black lovage Sumner Company is one that buys and sells real estate and has subsidiaries that act as brokers take together commercial landlords with businesses that need to rent commercial space. One of those subsidiaries is the black lovage Sumner Industrial Company which is a corporation. James Hanson works as VP for that corporation. As VP Hanson negotiated and made contracts with bu sinesses to rent commercial space, for the AS Company. He was an agent for the fellowship in many of these situations before, and so he did have the authority as an agent to make arrangements with Ms. Rogers.Now, when the arrangements were being made, Hanson told Ms. Rogers that a current tenant of a building had over 40,000 sq.