DPB30073 BUSINESS LAW - Topic 4 v3

The law of agency is governed by the Agency Act 1950.

• True

• False

Factor is a type of an agent.

• True

• False

Section 7 of the Partnership Act 1961 explains the example of implied appointment.

• True

• False

Agency may be created by performance.

• True

• False

Agency by ratification exists when an agent who has no authority act for the principal.

• True

• Agent

The parties involved in agency are agent, principal and owner.

• True

• False

Agency by necessity happen when a person does an act to prevent loss to the owner.

• True

• False

Agency can be created in the following way, for example express appointment, estoppel, except by termination.

• True

• False

The duty of a principal to the agent is not to make a secret profit.

• True

• False

Agency maybe terminated when the agent or principal move to another place.

• True

• False