A nice explanation - coffee queue time limitations notwithstanding.
Thanks John.
It's perhaps worth adding that the word "agent", like the word
"action", is from the Latin for the verb "to act"... and that the word
"manager" is from the, er, English verb "to manage". : o)
Mike
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On 12 Jun 2008, at 04:01, John Colby wrote:
> I asked one of our Law Faculty what an agent was and he referred me
> to the Wikipedia definition as maybe simplest:
>
> An Agent in Commercial Law is a person who is authorised to act on
> behalf of another (called the Principal) to create a legal
> relationship with a Third Party. Section 182 of the [Indian]
> Contract Act, 1872 defines Agent as “a person employed to do any act
> for another or to represent another in dealings with third persons”.
> Agency law deals with the tripartite relationship between:
>
> * Agents and Principals;
> * Agents and the Third Parties with whom they deal on their
> Principals' behalf; and
> * Principals and the Third Parties when the Agents deal on their
> behalf.
>
> This is from http://en.wikipedia.org/wiki/Agent_(law)
>
> He went on to completely confuse me by talking of the various
> degrees of authority that could be granted.
>
> Managers do not fall into the category of agent pse se.
>
> Then we reached the end of the coffee queue and the conversation
> ended.
>
> What I believe I heard was that agents can act for the owners,
> managers manage for the owner. I suppose it depends if the owner is
> question is a person, partnership or company with directors.
>
> Regards
>
> John
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