Can someone help me with business law questions?

yj718 — Sat, 10 Mar 2012 07:34:14 +0800

*i hope this thread is allowed*

Hello, I am currently doing business law as part of my course requirements and I am stuck with some practice questions regarding Agency.
I hope some of the law students could guide me to the lightttt.

FYI, I'm currently using this book.

First of all, can someone verify if my answers are correct or not?

Q: What is the role of "agency" and its "legal ramifications" in the legal structure of business?
An agent is a person who has power to alter the legal position of another person, the principal. Generally, an agent has the power to make contracts on behalf of the principle. Once the contract has been made, it is the principle and not the agent who will be bound by it.
Agents owe both contractual and fiduciary duties to their principles.

Legal ramifications: The types of authority given by the principle as different authorities leads to different consequences. It determines who is liable and who is not.
Example: Actual authority vs Apparent authority

I do not know what else are the legal ramifications that can be applied.

Next, here is a scenario about agency law.

QUOTE

Anne, a self-employed manager of sporting celebrities, agrees to become the manager of Paul Putter, a promising professional boxer. Anne is to arrange bouts for Paul and also to look after his financial affairs. The agreement is for fixed five-year period, and entitles Anne to an annual fee and 10% commission on all of Paul's earnings.

Fifteen months into the agreement, Paul has become increasingly dissatisfied with Anne's services and would like to be managed by Alice. Advise Paul on the consequences of his ending the contract with Anne, whether or not Anne could prevent him from employing Alice as his manager.

Explain also how Paul's withdrawal of consent for Anne to act as his agent would affect Anne's ability to make contracts between Paul and third parties.

How would your answer be different if Paul had been a painter, rather than a boxer, and Anne had been employed to negotiate the sale of his paintings under a contract for an indefinite period?

From what I checked from the textbook, the consequences of ending the contract are:
Damages will be assessed on normal contract principles under two Hadley v Baxendale rules:
a) specific performance will not be ordered to compel a party to continue to act as agent, as it will not be ordered to enforce personal service contracts.
b) Nor will an injuction be ordered, f it would, in effect, amount to specific performance of an agency contract.

What does the above two rules actually mean??

Anne might still have apparent authority even after withdrawal of actual authority.

If Paul was a painter, Anne is then a commercial agent. Then all rules applies under commercial agent rights.

But will Anne be able to prevent Paul from employing Alice? How Paul's withdrawal of consent for Anne to act as his agent would affect Anne's ability to make contracts between Paul and third parties?

Are cosmetics cheaper in duty free KLIA?

yj718 — Thu, 25 Mar 2010 22:01:53 +0800

Are cosmetics really cheaper in duty free stores?
If so, how much cheaper?
I googled in the Internet but most of the articles said that you can get cheaper price in retail stores.
Any idea?

Eyebrow trimming @ Shu Uemura

yj718 — Sat, 17 Oct 2009 22:51:32 +0800

Recently, I passed by 1 Utama's Shu and asked for the price for their eyebrow trimming service.
The beauty stylist told me for first timer(shapeless eyebrows like mine) it is RM 30.
I thought it was okay since I didn't know the market price. After that my friend told me that there are other places that offer as cheap as RM 3 only!
I was shocked and I thought, what's so special about Shu's service?
If it is worth the RM 30, I wouldn't mind spending it though.
If it is just soso, I must why go to the RM 3 one. XD
Please share your experiences and the saloons/places you visit for eyebrow trimming yeah.
Thanks!

Lowyat.NET: Latest topics by yj718

Can someone help me with business law questions?

Are cosmetics cheaper in duty free KLIA?

Eyebrow trimming @ Shu Uemura