AGENCY. Agency relationship is an exception to the privity of contract rule. It is “An agreement between two that one should represent him”-Bowstead. The acts or omissions of the agent are seen as that of the principal –Salami JCA in Akalonu V. Amokaro. An agent can be seen as a mere “conduit-pipe” connecting the principal […]
CAPACITY The principal, agent and the third party should be capacitated. However, the law focuses on the principal and third party. Who can act as principal? Anybody that can do what he wants his agent to do. In essence, since the acts of the agent is seen as that of the principal, he cannot appoint […]
DUTIES OF THE AGENT. The agent has a duty to perform: Lawful obligations under the agency. Generally, a gratuitous agent is not liable for non-performance even if he has promised to perform except he voluntarily assumes his duties. Coggs V. Bernard. The gratuitous agent undertook to transport several barrels of brandy belonging to the principal. […]
TERMINATION OF AN AGENCY By the parties By operation of the law. By the parties: may be unilateral or mutual. The agent can renounce the agreement or the principal can revoke the agency agreement or both may mutually bring it to an end. The notice must be made to the agent or the principal as […]
HIRE PURCHASE. Origin and development. Its growth was rapid and depended on the ingenuity of lawyers through common-law. The Singer Manufacturing Company wanted to expand their customer base. They invited their customer to buy and pay by installments and gain full property of the goods once final installment has been paid. Subsequently, in order not […]
SCOPE OF THE HIRE-PURCHASE ACT. Section 1 Hire-Purchase Act, provides that the act would regulate agreements made after the act; For goods (other than motor vehicles) which are not more than #2,000 All agreements in respect of motor vehicles irrespective of the price. Section 20 Hire-Purchase Act defines a motor vehicle as a mechanically propelled […]
