Administrative Law Definition, Ideas, Examples, Varieties, & Facts
The agent is liable right here if they knew the principal had no capacity to participate within the contract even when the third get together is conscious of that the principal doesn’t exist. An agent can even bind themselves to contracts by expressly agreeing to be liable. To keep away from this, agents should make no categorical promises in their own name and may make certain the contract only obligates the principal. An agent may be liable to a 3rd party if they lack the authority to contract for a principal.
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