X Ltd has two directors, Joe and Harry. None of the directors is authorized to enter into contracts on behalf of the company. In practice, Joe enters into all contracts on behalf of the company (with Harry`s agreement). What type of agency has been created when a third party acting in good faith enters into a contract with Joe that indicates that he is acting on behalf of X Ltd? Prab asked his agent Hari to buy his 500 shares of X Ltd. Hari owned 600 shares of X Ltd, so that, without informing Prab where the shares came from, he sold his shares to Prab at market value. Is Hari not meeting his agency obligations? A retrospectively established agency relationship is known as an agency by: Con instructs George to act as his agent for two weeks. George agrees to act without paying. Con orders George to fetch rent from his tenants every Friday morning and pay the rent to the bank next door. .
- No categories