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Criminology

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Criminology

A general agent is an individual who is hired to perform any task required by the business or by act and has no line of operations e.g., property manager.  A special agent is an individual who is limited to specific jobs from a client. A listing agent hired by a client to sell a home is an example of a special agent.

An agent is an individual who is legally authorized to transact or act on behalf of the principal. It may be in business or any transaction. The agent owes the principal the duty of fiduciary hence obligated to act at the interest of the principal (Sitkoff, 2013).

Goods can only be paid if they meet the standard of the customer. Jill Johnson can only refuse to pay for tomatoes if they are not up to standard. However, if the product is of a good standard, then he has no choice but to meet the obligations of paying for the tomatoes.

Jim can choose to operate as a sole proprietor because a sole proprietor is a single business owned by an individual enjoying all the profits, have full control of the business, makes the decision by himself, less power work for formation (McQuaid, 2010). A sole proprietor is also is simple to form and operate.  On the other, Jim may choose to incorporate the business into a public limited company because it has more growth and expansion opportunities; it also has more financial opportunities over a sole proprietorship.

The Uniform Partnership Act (UPA) governs the partnership relationship between partners. The UPA Act addresses in the partnership agreement (Snyman & Henning, 2002). Under the UPA Act, disagreement amongst the partners cannot lead to the dissolution of the partnership; hence the partnership is still liable for the contract.  A partnership cannot be dissolved based on an individual mistake of an individual but a mutual agreement amongst the members.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

McQuaid, R. (2010). Theory of organizational partnerships: partnership advantages, disadvantages, and success factors.

Sitkoff, R. H. (2013). The fiduciary obligations of financial advisors under the law of agency.

Snyman, E., & Henning, J. J. (2002). Developments in the Anglo-American law of partnership: The limited liability partnership as a new form of business enterprise. JS Afr. L., 129.

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