Biruk Tesfaye
Apr 10
3.Formshouldbefulfilled. Nowletusseeeachoftherequirementsfortheformationofanagencycontract?
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ChatGPT
Apr 10
1. Offer and Acceptance: There must be a valid offer made by one party and accepted by the other party. The offer must be clear, definite, and communicated to the other party. The acceptance must be unconditional and communicated back to the offeror.
2. Capacity: Both parties must have the legal capacity to enter into a contract. This means they must be of sound mind and of legal age.
3. Intent: Both parties must have the intention to create a legal relationship. This means they must intend to be bound by the terms of the contract.
4. Consideration: There must be something of value exchanged between the parties. This can be money, goods, services, or promises to do or not do something.
5. Legality: The purpose of the contract must be legal and not against public policy. This means that the contract cannot involve illegal activities or go against established laws or regulations.
6. Formalities: Some contracts may require certain formalities to be fulfilled, such as being in writing or signed by both parties. It is important to check if any specific formalities are required for the formation of an agency contract.
By ensuring that all of these requirements are met, the formation of an agency contract can be considered valid and legally binding.
2. Capacity: Both parties must have the legal capacity to enter into a contract. This means they must be of sound mind and of legal age.
3. Intent: Both parties must have the intention to create a legal relationship. This means they must intend to be bound by the terms of the contract.
4. Consideration: There must be something of value exchanged between the parties. This can be money, goods, services, or promises to do or not do something.
5. Legality: The purpose of the contract must be legal and not against public policy. This means that the contract cannot involve illegal activities or go against established laws or regulations.
6. Formalities: Some contracts may require certain formalities to be fulfilled, such as being in writing or signed by both parties. It is important to check if any specific formalities are required for the formation of an agency contract.
By ensuring that all of these requirements are met, the formation of an agency contract can be considered valid and legally binding.
1
Biruk Tesfaye
Apr 10
Explain again
0
Biruk Tesfaye
Apr 10
1.Canyoudistinguishbetweenthetheoriesofagencylawunderthecommonlawlegal
systemandthecivillawlegalsystem?
2.Explainthegenesisanddevelopmentofagencyrepresentationunder
A.Thecommonlawlegalsystem?
B.Thecivillawlegalsystem?
3.Whatwerethemainimpedimentsinthedevelopmentoftheagencyrepresentationunder
thecivillawlegalsystem?
4.Whatweretheprinciplesonwhichtheagencyrelationshipintheearlycommonlawwas
based?
systemandthecivillawlegalsystem?
2.Explainthegenesisanddevelopmentofagencyrepresentationunder
A.Thecommonlawlegalsystem?
B.Thecivillawlegalsystem?
3.Whatwerethemainimpedimentsinthedevelopmentoftheagencyrepresentationunder
thecivillawlegalsystem?
4.Whatweretheprinciplesonwhichtheagencyrelationshipintheearlycommonlawwas
based?
0
