Agency
Area of Law
This case relates to agency matter.
Outline of Law
A stock broker can be classified as general agents who deal with buying or selling shares in the stock exchange as the representative for the clients (Maltas 2007, p. 22). As an agent, he/she has duties such as to act in good faith which means that he/she has to disclose all of the personal interests and not take a secret profit relating in any agency deals because he/she is in a fiduciary relationship with the principal (Maltas 2007, p. 37). We can see in Armstrong v Jackson (1971) 2 K.B. 82, the principal asked a share broker to buy shares for him. In this situation, the share broker had some shares but he could not sell his shares since he is contacted as an agent for the principal, if he was willing to sell his shares, he would fail to do his liability as an agent. Also, in Hewson v Sydney Stock Exchange (1967) W.N. (NSW) 422, not only could the stock broker indulge in the business of a share trader but also......
View the rest of this paper...
Approximate Word Count: 502
Approximate Pages: 3 (250 words per double-spaced page)
Why should you join Frat Files?
- - It's safe, secure, and private.
- - Instant access to over 100,000 papers. New papers are added hourly.
- - Fast and reliable customer support.
Similar Essays
-
Advertising: Agency &Amp; Client Relationships
Advertising: agency & client relationships. Excerpts from Chapter 12 of How
to get the best advertising from your agency by Nancy Salz. ... -
Land Management Agency Discretion
Land Management Agency Discretion. Agency discretion towards land management
has been an issue since the Forest Service's conception. ... -
Agency Theory
Agency Theory. Agency Theory Description ... barter and exchange. Most business
relationships are fundamentally agency relationships. ... -
Travel Agency Supply Chain
Travel agency supply chain. ... For instance, a travel agency would make a deal with
certain hotels to try and use them when reserving rooms for their customers. ... -
Free Agency
free agency. Free Agency In today's world everyone is trying to get their own
piece of the pie. ... The free agency is based on individualism. ...
Frat Files
Members
Information
