Agency

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Agency

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ASSIGNMENT: CASE SYNTHESIS

Abate

To put an end to, to nullify or to become void.

Abatement

A reduction in some amount that is owed, usually granted by the person to whom the debt is owed. In the law of torts, the summary removal of a nuisance.

Ab Initio

Latin: from the start; from the beginning.

Absolute

Final, perfected, complete and unconditional.

Absolute Liability

Offences in which it is not open to a person to avoid liability on the ground that she or he acted under a reasonable mistake of fact which, if the facts had been as the accused believed them to be, would have made his act innocent.

Abuse

Physical or nonphysical misuse or maltreatment or use or treatment so as to injure, hurt, or damage.

Abuse of Discretion

A decision of a judicial body based on an erroneous finding of fact or conclusion of law, or an improper application of law to fact.

Acceleration Clause

A clause in a contract that states that if a payment is missed, or some other default occurs (such as the debtor becoming insolvent), then the contract is fully due immediately.

Acceptance

The final and unequivocal expression of assent to another's offer to contract.

Accessory Contract

It cannot exist without the presence or existence of another contract.

AcknowledgmentWhen a claim reaches an attorneys business he should give an acknowledgment allowing the forwarder recognize that the file was received by his business office as well as that he agrees via the rates laid out.Acquiescence

Action or inaction, which binds a person legally even though it was not intended as such.

Action

A formal demand to a court of law and of justice to resolve a dispute.ActionableManaging premises for a legal activity.

AdministratorOne designated to regulate and disperse an estate where the decedent has certainly not left a will, or where for some reason an executor has certainly certainly not been designated or qualified under the will.

Affirmation A declaration sworn to or affirmed before an authorities whom is sanctioned to render oaths in most cases a notary public.

AgencyA consensual relationship created by contract or by law where one party, the principal, grants authority for another party, the agent, to act on behalf of and under the control of the principal to deal with a third party. An agency relationship is fiduciary in nature, and the actions and words of an agent exchanged with a third party bind the principal.

Agency by Estoppel

The principal, by his actions or representation, is barred from questioning the existence of agency.

Agency Coupled with Interest

If it has been constituted: (1) in the common interest of the principal and of the agent or (2) in the interest of a third person who has accepted the stipulation in his favor.

Agent

A person authorized by the principal, to render some service or to do something in representation of the latter.

Apparent Authority

Anybody who makes it appear that the agent is authorized is bound by the acts of the agent. It is determined only by the acts of the principal and not by the acts of the agent.

Appellant

A person who applies to a higher court for a reversal of the decision of a lower court.

Appellee

The respondent in a case appealed to a higher court.

Arbitration

The resolution of a quarrel by an indifferent third employee, or employees, selected by the disputants.AttachmentTaking home within custody of the court, either to satisfy a judgment inevitably to be turned or as a technique of obtaining legal system.

Civil Complaint

A civil complaint initiates a civil lawsuit by setting forth for the court a claim for relief from damages caused, or wrongful conduct engaged in, by the defendant. The complaint outlines all of the plaintiff's theories of relief, or causes of action and the facts supporting each Cause of Action. The complaint also serves as notice to the defendant that legal action is underway. The Rules of Court govern construction of complaints filed in courts.

ClaimA right to payment, whether or certainly not mended, contingent, sold off, discussed or grown.

CommissionA fee paid based on a percentage of the sale made by an employee or agent, as distinguished from regular payments of wages or salary.

Commission Agent

A person who is engaged in the business of receiving, handling and selling of goods for commission whether in his own name or in that of another.Complainant

A plaintiff in certain lawsuits.

Conflict of InterestA term used to describe the situation in which a public official or fiduciary who, contrary to the obligation and absolute duty to act for the benefit of the public or a designated individual, exploits the relationship for personal benefit, typically pecuniary.Contract of AdhesionA fine-print consumer form contract which is generally given to consumers at point-of-sale, with no opportunity for negotiation as to it's terms, and which, typically, sets out the terms and conditions of the sale to advantage the seller.

Contract of Agency

A person binds himself to render some service or to do something in representation or on behalf of another with the consent and authority of the latter.

Contractual Agency

The relationship between the principal and the agent is created through the agreement of the parties.ConsignmentThe transport of items or chattels by methods of a frequent provider from one celebration known as the consignor to one more recognized as the consignee; also, the transfer of home to yet another for sale by him.

Contract

It is a meeting of the minds between two persons whereby one binds himself, with respect to the other, to give something or render some service.

ConveyanceThe transfer of a property in realty; an action. Frequently provides leases as well as mortgages.

CounterclaimA claim stated by the accused in resistance to or deduction from the claim of the plaintiff.

Damages

Monetary compensation that is awarded by a court in a civil action to an individual who has been injured through the wrongful conduct of another party.Default JudgmentA judgment given when the accused fizzles to respond or show up.

DefendantA individual, company, or institution sued or accused in a court of law.

Duties of an Agent

(1) Duty of obedience, (2) Duty of diligence and (3) Duty of loyalty

Duty of Diligence

The agent must exercise due diligence in the performance of its functions.

Duty of Loyalty

The relationship between the agent and his or her principal is fiduciary in nature.Duty of Obedience

The agent must respect the limitations imposed by law and the agreement between the parties.

Execution

The sheriffs endeavor to apply a judgment by looking up investments to levy upon.

Express Agency

The agency is expressly agreed upon by the parties.ForeclosureThe lawful act by which the owner of a mortgage reduces off the rights or hobby of the mortgagor in the mortgaged premises.Formal AgencyThe law requires a specific form.

ForwarderAn attorney, a collection agency, a credit bureau, a credit insurance policy company, or other entity which acts upon account of the lender as its representative which refers claims to lawyers for collection.

Forwarding Arrangement

A forwarding arrangement is the agreement joined between the collector (or the forwarder as the representative of the lender as well as with the lenders consent) as well as the recipient, stipulating with other things the remuneration set between the receiver and the collector as the recipients compensation for creating collection, in whole or in element, of a claim.GarnishmentA directive from a court or additional related authority steered to a next party to maintain possession of home belonging to a defendant in a legal action in the event it is must redeem a debt, or to maintain a piece of salaries owed a defendant in a strategy to pay off a personal debt.

General Agency

The agency comprises all the business of the principal

Guaranty

An arrangement by which one undertakes to be accountable to the personal debt of an additional individual in the occasion of his default.

Guarantee Commission

This is a commission that is given in addition to the ordinary commission. It is given so that the commission agent can bear the risk of collection and pay the principal the proceeds of the sale on the same terms agreed upon with the purchaser.

Implied Agency

The agency is presumed from the acts of the principal, from his silence or lack of action, or his failure to repudiate the agency, knowing that another person is acting on his behalf.

Indemnity

Settlement paid for harm or reduction preserved or anticipated.

Innominate Contracts

No name is given by law.

Insolvency

Ailment of a person who is not capable to pay his financial debts as they fall due. Joint ObligationOne in which each debtor is liable only for the proportionate part of the debt and the creditor is entitled to demand only a proportionate part of the credit from each debtor.

Judgment

This is when the court grants the customer a volume officially owed by the debtor.

Judicial Lien

A lien acquired by judgment, levy or additional lawful case.

Juridical Persons(1) The State and its political subdivisions, (2) other corporations, institutions and entities for public interest or purpose, created by law; their personality begins as soon as they have been constituted according to law and (3) corporations, partnerships and associations for private interest or purpose to which the law grants a juridical personality, separate and distinct from that of each shareholder, partner or member.Legal Agency

The relationship between the agent and the principal is created by law.Legal CapacityA person's authority under law to engage in a particular undertaking or maintain a particular status.

Lien

The right to suit a financial debt out of particular premises owned by the debtor.

Oral Agency

No written proof of the agency.Natural Persons

A human being.

Nominate ContractsA name is given under the law.

Notice Through Advertisement

If a person states by public advertisement that he has given a power of attorney to a third person, the latter thereby becomes a duly authorized agent with regard to any person.Plaintiff The party making a complaint in an activity or case.

Power to Compromise

A special power to compromise does not authorize submission to arbitration.Power to SellA special power to sell excludes the power to mortgage and vice versa.Preparatory Contract

It is entered into so that the other contracts can be entered into or in anticipation of another contract.Principal Contract

It may exist alone even without the presence of any other contract.

RespondentA defendant in a lawsuit, especially one in an appeals or divorce case.

Settlement

This is when the debtor delivers an amount of cash or products to settle a debt.

Solidary Obligation

One in which each of the debtors is liable for the entire obligation and each of the creditors is entitled to demand the satisfaction of the whole obligation from any or all of the debtors.

Special Agency

The agency is for one or more specific transactions.

Special Notice

If a person specially informs another that he has given a power of attorney to a third person, the latter thereby becomes a duly authorized agent with respect to the person who received the special information.

Subject Matter of Agency

The object of the contract of agency is the prestation and the power to represent the principal.

Summons

A writ or notice requiring a person to appear just before a court to answer a grievance.Writ

A purchase issued from a court in the name of the principal or state routing the individual called to conform by having the paths consisted of therein. Under the frequent legislation all activities were originated by the issue of a specific kind of writ as well as no root cause might be started unless a recognized form of writ was implemented consequently.