Page 147 - Microsoft Word - 00 Prelims.docx
P. 147

Agency law




               Principal’s liability to the agent

               Indemnity                        The agent is entitled to be repaid expenses properly
                                                 paid

                                                He is also entitled to be indemnified by his principal
                                                 against losses and liabilities, provided his acts are
                                                 done properly within the limits of his authority.


               Remuneration                     The agent is also entitled to be paid any agreed
                                                 remuneration for his services by his principal.


                                                The entitlement to remuneration may have been
                                                 expressly agreed or may be inferred from the
                                                 circumstances

                                                If it is agreed that the agent is to be remunerated but
                                                 the amount has not been fixed, the agent is entitled
                                                 to a reasonable amount.

               Lien                             The agent has the right to exercise a lien over
                                                 property owned by the principal, i.e. a right to retain
                                                 and hold goods pending payment of sums owed to
                                                 him.










































                                                                                                      143
   142   143   144   145   146   147   148   149   150   151   152