Eight Important Duties of an Agent Towards the Principal Essay Example for Free

Eight Important Duties of an Agent Towards the Principal Essay 1. Duty to follow principal’s directions or customs (Sec. 211): The first duty of every agent is to act within the scope of the authority conferred upon him and perform the agency work according to the directions given by the principal. When the agent acts otherwise, if any loss be sustained, he must make it good to the principal, and if any profit accrues, he must account for it.   Illustrations: (a) Where the principal instructed the agent to warehouse the goods at a particular place and the agent warehoused them at a different warehouse which was equally safe, and the goods were destroyed by fire without negligence, it was held that the agent was liable for the loss because any departure from the instructions makes the agent absolutely liable (Lilley vs Doubleday). (b) An agent being instructed to insure goods neglects to do so. He is liable to compensate the principal in the event of these being lost (Pannalal Jankidas vs Mohanlal). If the principal has not given any express or implied directions, then it is the duty of the agent to follow the custom prevailing in the same kind of business at the place where the agent conducts business. If the agent makes any departure, he does so at his own risk. He must make good any loss so sustained by the principal. Illustrations (Appended To Sec. 211): (a) A, an agent, engaged in carrying on for B a business, in which it is the custom to invest from time to time at interest, the moneys which may be in hand, omits to make such investments. A must make good to B the interest usually obtained by such investments. (b) B, a broker, in whose business it is not the custom to sell on credit, sells goods of A on credit to C, whose credit at the time was very high. C, before payment, becomes insolvent. B must make good the loss to A, irrespective of his good intentions. 2. Duty to carry out the work with reasonable skill and diligence (Sec. 212): The agent must conduct the business is generally possessed by persons engaged in similar business, unless the principal has notice of his want of skill. Further, the agent must act with reasonable diligence and to the best of his skill.   If the agent does not work with reasonable care, skill (unless the principal has notice of his want of skill) and diligence, he must make compensation to his principal in respect of ‘direct consequences’ of his own neglect, want of skill or misconduct. But he is not so liable for indirect or remote losses. Illustrations (Appended To Sec. 212): (a) A, a merchant in Kolkata, has an agent B, in London, to whom a sum of money is paid on A’s account, with orders to remit. B retains the money for a considerable time. A, in consequence of not receiving the money, becomes insolvent. B is liable for the money and interest from the day on which it ought to have been paid, according to the usual rate, and for any further direct loss such as loss by variation of rate of exchange, but nothing further. (b) A, an agent for the sale of goods, having authority to sell goods on credit, sells to B on credit, without making the proper and usual enquiries as to the solvency of B. B, at the time of such sale, is insolvent. A must make compensation to his principal in respect of any loss thereby sustained. 3. Duty to Render Accounts (Sec. 213): It is the duty of an agent to keep proper accounts of his principal’s money or property and render them to him on demand, or periodically if so provided in the agreement. 4. Duty to communicate (Sec. 214): It is the duty of an agent, in cases of difficulty, to use all reasonable diligence in communicating with his principal, and in seeking to obtain his instructions, before taking any steps in facing the difficulty or emergency. 5. Duty not to deal on his own account (Sees. 215 and 216): An agent must not deal on his own   account in the business of agency; i.e., he must not himself buy from or sell to his principal goods he is askedto sell or buy on behalf of his principal; without obtaining the consent of his principal after disclosing all material facts to him. If the agent violates this rule, the principal may repudiate the transaction where it can be shown that any material fact has been knowingly concealed by the agent, or that the dealings of the agent have been disadvantageous to the principal. The principal is also entitled to claim from the agent any benefit which may have resulted to him from the transaction. Illustrations: (a) A, directs B to sell A’s estate. B buys the estate for himself in the name of   . A, on discovering that B has bought the estate for himself may repudiate the sale, if he can show that B has dishonestly concealed any material fact or that the sale has been disavantageous to him. [Illustration (a) Appended to Section 215 ( b)A directs, B, his agent, to buy a certain house for him. B tells A that it cannot be bought and buys the house for himself. A may, on discovering that B has bought the house, compel him to sell it to A at the price he gave for it. [Illustration appended to Section 216] 6. Duty not to make any profit out of his agency except his remuneration (Sees. 217 and 218): An agent stands in a fiduciary relation to his principal and therefore he must not make any profit (secret profit) out of his agency. He must pay to his principal all moneys (including illegal gratification, if any) received by him on principal’s account. He can, however, deduct all moneys due to himself in respect of his remuneration or/and expenses properly incurred. If his acts are not bonafide, he will lose his remuneration and will have to account for the secret profit to his principal. 7. Duty on termination of agency by principal’s death or insanity (Sec. 209): When an agency is terminated by the principal dying or becoming of unsound mind, the agent must take, on behalf of the representatives of his late principal, all reasonable steps for the protection and preservation of the interests entrusted to him. 8. Duty not to delegate authority (Sec. 190): Subject to six exceptions stated earlier (under the heading Delegation of Authority), an agent must not further delegate his authority to another person, but perform the work of agency himself.

who was right :: essays papers

who was right When white men crossed the boundary of the Missouri River, it upset the balance between the pioneers and the red men. Obviously the red men were not happy and lashed out against their white oppressors. Many just saw savages, but much of the American army saw courage and honor. Was it right for members of the army who had just maintained the union of their own society, to dismember the culture of the Native Americans? I believe it was. First of all, the army did not enjoy having to push the Indians back from the lands that the white people wanted, but then they also had to try and convert them to Christianity. The Indians retaliated against the army, but it was the United States government itself that broke the treaties that promised the Indians land and then expected the army to keep the peace through mutual trust. Military action appeared to be the only way to keep white civilians from complaining about Indian attacks on the white man's newly acquired land. An Army official named Sheridan received reports each week about the horrendous acts of violence caused by the red man. It was then that famous phrase was created "the only good Indians I ever saw were dead." There were many men like Sheridan who hated the Indians and looked down upon their senseless acts of violence. However, men like William Tecumseh Sherman had a deep respect and admiration for the enemy and his fighting skill. In fact, both Sheridan and Sherman confessed to pity and compassion for the Native Americans they had set out to destroy. Even men like General Nelson A. Miles who had personal reasons for revenge against the enemy showed a deep respect, almost reverence, for the red man. Colonel John Gibbon proclaimed that the record of white hostility and treachery would force any man to fight. Gibbon raised more questions about his own culture than he answered about his enemies. To many soldiers who had the same ideals as Gibbon, the courage and bearing of the red man suggested a purer way of life before the coming of the white men. Some men like General George Crook became more of an Indian than some Apaches. Crook's argument about the Indian violence was that their nature is responsive to treatment which assures him that it is based upon justice, truth, honesty, and common sense.

China Authoritarian State

Alyssa Morgan Intro to Comparative Politics Ritu Dhungana September 8, 2012 China: Authoritarian Regime According the text, Hague and Harrop, Authoritarian rule is any form of non-democratic rule. Although authoritarian, there is broad aspect of the term. Many countries can be considered authoritarian or non-democratic through one party rule, military junta, and presidential dictatorship (Hague and Harrop, â€Å"Authoritarian Rule†). One party, the Communist party, rules China.There are three reasons as to why China is considered to be governed by an authoritarian regime: The Communist Party seeks to maintain their own control; corruption, and the absence of constitutional restraint and clear legal framework (Hague and Harrop, â€Å"Authoritarian Rule†). Liberal democracy serves as a way to steer from instability though checks and balances. However communism, a form of authoritarian rule, is defined as a system of social organization where all property is controlled by the overall community in which each person contributes and receives in accordance to their ability and need (Oxford Dictionaries, â€Å"Communism†).China’s communist party maintains control over the wealth and prosperity formed throughout the People’s Republic of China, making it an authoritarian state. However, China is growing economically and vibrantly, climbing the ladder in becoming one of the world’s superpowers. China as a whole has prospered from this authoritarian regime and over three hundred million Chinese have sought benefit from this but over one billion have had little or no advantage (Project Muse, â€Å"A Rising, Emboldened China†). There are always pros and cons to any form of government.As part of the their way of maintaining control, the government limits local elections and the press and any and all political mentions is strictly controlled. Any criticism about the government, online or in newspapers is dealt with harshly and s wiftly (The Democracy Journal, â€Å"China and East Asian Democracy†). The restriction of open ideas on the Internet and in the newspapers makes the task of voting extremely difficult for there are no opposing arguments in the media or elsewhere to derive an opinion from. (The Democracy Journal, â€Å"China and East Asian Democracy†).The main question remains that, although this country is economically prosperous, can the Communist party of the People’s Republic of China maintain this type of authoritarian regime without inevitable civil unrest and perhaps a revolution. The lack of constitutional restraint and unclear legal framework is apparent while reading about The People’s Republic of China. It is hard to criticize the Chinese government and their form of authoritarian regime for they are fast becoming a leading nation in this world.The Chinese Communist Party, (CCP) however restraining, has evolved to become very complex and adaptable (Journal of De mocracy, â€Å"China and East Asian Democracy†). Many authoritarian regimes require succession within the family, (monarchy) but China has term limits and invests its power in one single party, thus making China a modern authoritarian regime. Corruption will inevitably be found within any communist country. Many who hold high positions in the government of China are due to their prestigious or wealthy family backgrounds.Many officials apart of the CCP enjoy various perks and wealth in their jobs. It is assumed that early China had less corruption due to fewer resources and ones fight to rise to power (Journal of Democracy, â€Å"China and East Asian Democracy†). Corruption is most common in the lower administrative branches of government in China. Lower level officials are cooed to compete with one other to achieve higher personal status as well as promotion within the government (Journal of Democracy, â€Å"China and East Asian Democracy†).The simple characteri stics of an unclear legal framework or constitutional restraint, corruption, and preservation of power makes China an authoritarian government no matter how adaptive, prosperous, or beneficial. China has undoubtedly grown in terms of the economy and is making strides to becoming one the world’s superpowers, making an analysis of the government in China difficult. There are pro’s and cons when dealing with the highly adaptive and complex governmental regime in this country, but above all the Peoples Republic of China is Communist, therefore supporting the main topic that China stands under an authoritarian regime.

College Athletes Deserve to Be Paid Essay - 1002 Words

Sports were created for the enjoyment of beings and friendly competition. Today society has shifted the friendly competition to more of a money based system rather than fun and games. The typical athletes’ road to success is starting from a young age, playing in high school, and then receiving a scholarship for College and all athletes overall objective is to constantly get better and play professionally. Universities have really manipulated athletes in the world today giving them â€Å"free education† for the exchange of their blood, sweet, and tears, while they receive revenue that athletes bring in yearly. It is very evident that College athletes deserve to be paid, and universities need to find a way to pay them a reasonably amount because†¦show more content†¦Although the athletes receive scholarship offers they are also cheated out of income that the universities receive for all of the hard work that the athletes do. Bringing up Alabama again they earned total revenue of $124.5 million in the year of 2013 before New Year’s Day. Alabama’s tuition is about 14,000 dollars. This is a major difference and truly explains how College universities â€Å"Give Athletes Free Education† is not remotely equal at all. â€Å"Being a College athlete is a full time Job† (Lynn OShaughnessy) .So when recruits pick the College of their choice and continuously pursue the road to professionalism the sport that they are playing, it is equivalent to them signing an un-read contract where the offeror receives 100% of the Income. 42.1 hours a week is what Division I baseball players on average spend on their sport. Excluding classes and having a social life on campus this is truly sucking the life and energy out of the College athletes’ bodies and they receive little to nothing in return for all of their hard work. This is more like a full-time intern job. Money is just not given to athletes and they unfairly have to pay for everything that they need. There is no way possible to earn money because of how much time a week they spend on average participating in the sport they â€Å"earned a right to play†. It is not fair to the College athletes who do everything in their powerShow MoreRelatedShould College Athletes Be Paid?1130 Words   |  5 PagesWhat college athlete would not want to be paid to play the sport that he or she loves? The real question is, though, should college athletes be paid for their roles in a college’s athletics? They are many points to each side of this recent controversial topic, which is why this has been made into such a hot debate in the past couple of years. As of right now, these athletes are not getting paid, but many of them truly believe that they should. Others believe that they already are being paid throughRead Morewhy college athletes should be paid1388 Words   |  6 Pagesï » ¿ Why Collegiate Athletes Should be Paid In our world, people who bring in money with their talents are usually compensated for their efforts. It makes complete sense right? Well for college athletes, they bring in billions of dollars worth of revenue for their school, but do not get compensated for their talents whatsoever. Most people argue that only professional athletes should be paid because it is their profession, but people do not take in account for all the hard work and effort these studentRead MoreWhy College Athletes Should Get Paid1309 Words   |  6 PagesAustin Ebeling English 115 Why College Athletes Should Get Paid And Why They Shouldn’t November 18, 2014 Ebeling 2 Intro: How much harder would athletes work if they were paid for their performance on the field, track, or court? 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This has been on the rise especially since â€Å"March Madness† is coming up. â€Å"March Madness† may only consist of three weekends, however, an 11 billion dollar deal is made to televise the games (Wilbon).Read MoreCollege Athletes Should Be P aid For Their Participation1056 Words   |  5 PagesThere is a big debate whether college athletes should get paid for their participation in a sport. I believe that college athlete should get paid. College athletes are taken advantage of in college athletics and deserve to be paid for their time, hard work, and dedication in a sport. College athletics are growing very fast and they are beginning to bring in more money. The highest revenue by a college right now is $196,030,398 by the University of Oregon. College athletes are not seeing any of thisRead MoreCollege Athletics Is A Major Part Of PeopleS Lives Around1364 Words   |  6 PagesCollege athletics is a major part of people s lives around the world. From the athletes playing the various sports to the fans watching from their televisions it has become a huge thing. A portion of these people seem to think that the athletes deserve more then what is already given to them. A question has been brought up and debated on whether or not these athletes should be paid to play. College athletes are hard working young adults trying to earn a degree at whichever school they have chosenRead MoreIt’s Time to Pay College Athletes Essay1704 Words   |  7 PagesCollege athletes should be paid because of the huge amount of money being made off of the use of their athletic ability. The college basketball and football games that everyone watches on TV is no longer just a game, it is a business. The colleges and arenas hosting such events are not doing it solely for the love of sport, they are doing it for the money that will flow generously into their banking accounts. The coaches also, they are not volunteers, they are not there just for their love of theRead MoreShould College Athletes Be Paid?1537 Words   |  7 Pagesface is the fact that college athletes are not paid, although they perform in a multibillion dollar industry. The NCAA basically has a monopoly on college athletics, and generate about one bi llion dollars a year. College sports are extremely demanding both in and out of season, and these athletes put their future on the line. The NCAA should be legally obligated to compensate athletes, based solely on the fact that the money made, is from their performance. The National College Athletic AssociationRead MoreToday more than ever, college sports are not just a game but instead a billion dollar business. The1100 Words   |  5 Pagesever, college sports are not just a game but instead a billion dollar business. 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A lot of big name school such as University of Miami and University of Ohio to name a few have been in the news lately for all the discipline they have been