The legal process of applying a business agent to perform the certain task for the employer.

2. Running Canvas
Name ID
Mahbub Nabi Rasel M21421111108
Nazmus Shoeb Jamil M21421111122

3. Law of Agency

4. Learning Objectives
 Definition and nature of agency
 Classification of agents
 Methods of creating agency
 Sub-agent and co-agent

5. Definition and nature of agency
Agent:
 Who works under the control of principal.
 A person employed to do any act for another.
 represent another in dealing with third persons.
Principal:
 who authorizes an agent.
 Hire agent to create legal relationships with a third party.
 Agency: Relationship between the agent and the principal.

6. Definition and nature of agency
Power of Attorney :
 An agent appointed by the principal
 To execute a written and stamped document.
Types of power of Attorney
 General power
 an authority to do certain general objectives.
 written authorization to represent:
private affairs
business,
or some other legal matters.

7. Definition and nature of agency
 Special Power
 agent authorized to do a specific thing.
 Act only on certain circumstances
Who can appoint an agent :
 Who is of the age of majority by the law.
 Who is of sound mind.
Who maybe an agent :
 Any person maybe a agent (even a minor).
 A minor can bind principle with third parties.
 A minor is not liable to the principle.

8. Different classes of Agent
Broker
Auctioneer
A Del Credere
Agent
General and
particular
agent
Commission
agent
Factor

9. Different classes of Agent
Broker :
 Who brings buyer and seller into contract.
 His duties end when the parties are brought together.
 contract of sale and purchase is entered into directly by the parties.
 does not keep the goods or the property
Factor :
 A mercantile agent with whom goods are kept for sale.
 Has a general lien on the goods for money due to him as agent.

10. Different classes of Agent
A Commission agent :
 Who actually receives the goods for the purpose of selling goods to
the buyer.
 If he fails to do the act in that case products should be returned to
the principal.
Auctioneer :
 Who is authorized to sell goods or property of his principal by
auction.
 Has a particular lien on the goods for his remuneration.
 Can sue the buyer in his own name.

11. Different classes of Agent
A del Credere Agent :
 Guarantees the performance of the country for extra
remuneration.
 If party fails to pay the price del credere agent pay to the
principal.
General agent and particular agent:
 General agent represents the principal in a particular business.
 Particular agent appointed for a specific purpose.

12. Methods of Creating Agency
1)Agency by Express Agreement
2)Agency by Implied Agreement
3)Agency by Holding Out
4)Agency by necessity
5)Agency By Ratification

13. Methods of Creating Agency
Agency by express agreement :
 Agreement maybe oral or written.
 Appoint agents by executing a formal of attorney on a written and
stamped document.
Agency by implied Agreement :
 Agreement maybe implied under certain circumstances.
 Agency by estoppels and agency of necessity are cases.

14. Methods of Creating Agency
Agency by holding out:
 Make conduct others to believe he is an agent
 Is precluded from subsequently denying it.
 Created by the implication of law.
Agency of Necessity:
 When an agency is created by the circumstances.
 The impossibility of getting the instructions from the principal
is the basis of creation of agency by necessity.
Agency of Ratification:
 Subsequent adoption or acceptance by a person of an
unauthorized act done by another on his behalf without any
authority

15. Sub-Agent and Co-Agent
Rule:
 Agent cannot appoint an agent .
 Cannot lawfully employ another to perform acts .
Exceptions :
 An agent can appoint agent if it is permitted by agency.
 When it is necessary because of the nature of the agency.
Sub-Agent:
 An agent appointed by another agent.
 Is employed by and acting under the control of the original
agent.

16. Sub-Agent and Co-Agent
The consequences of appointing Sub-agent:
 Appointed by the acts under original agent.
 The principle is represented by the sub-agent and responsible
for his acts.
 The original agent is responsible to the principal for the acts of
sub-agent.
 The sub-agent is responsible for his acts to the agent, not to the
principle.
 Where an agent appoints a sub-agent, the agent is responsible
to principle and third parties.

17. Sub-Agent and Co-Agent
Co-Agent:
 Appointed by an Agent.
 Appointed according to the express or implied authority of the
principal.
 Act on be half of the principal.
 Responsible to the principal.