LESSON 3 PART 2 Flashcards
Forms of Agency
express
implied
Created when the principal explicitly states their
consent, either orally or in writing.
. EXPRESS AGENCY
Arises when the principal’s actions, silence, or failure
to repudiate indicate consent to the agency relationship.
IMPLIED AGENCY
Kinds of Agency
As to manner of its creation
As to its character
As to extent of business covered
As to authority conferred
As to its nature and effects
As to manner of its creation
a) Express
b) Implied
As to its character
a) Gratuitous
b) Compensated or onerous
comprises all the business of the principal
General Agency
comprises one or more specific transaction
Special Agency
comprise only acts of administration.
Couched in general terms
authorizes only specific acts.
Couched in specific terms
The agent acts in the name and representation of the principal.
Ostensible or representative
The agent acts in their own name but for the account of the principal.
Simple or commission
Acceptance by the agent may also he express, or implied from his acts which carry out the agency, or from his silence or inaction according to the circumstances.
Art. 1870
Kinds of Acceptance
Express
Implied
Between persons who are present, the acceptance of the agency may also be implied if the principal delivers his power of attorney to the agent and the latter receives it without any objection.
Art. 1871
If a person specially informs another or states by public advertisement that he has given a power of attorney to a third person, the latter thereby becomes a duly authorized agent, in the former case with respect to the person who received the special
information, and in the latter case with regard to any person.
Art. 1873
Two Ways of Informing Third Persons
Special Information
Public advertisement
If a person specially informs another that he has given a power of attorney to a third person, the latter thereby becomes a duly authorized agent with respect to the person who received the special information.
Special Information
If a person states by public advertisement that he has
given a power of attorney to a third person, the latter thereby becomes a duly authorized agent with regard to any person.
Public advertisement
OBLIGATIONS OF THE AGENT (Article 1884-1909)
GENERAL OBLIGATIONS:
- Good faith and loyalty to his trust, agent’s first duty
- Obedience to principal’s instruction
- Exercise of reasonable care
