This document discusses agency law and the obligations of agents. It defines different types of principals - disclosed, partially disclosed, and undisclosed. It states that if an agent acts in their own name, the principal has no right of action against third parties, nor do third parties have rights against the principal. However, the agent is directly bound to third parties. The agent is also bound to carry out the agency, is liable for damages caused by non-performance, and must finish business already begun if the principal dies and delay would cause danger.
This document discusses agency law and the obligations of agents. It defines different types of principals - disclosed, partially disclosed, and undisclosed. It states that if an agent acts in their own name, the principal has no right of action against third parties, nor do third parties have rights against the principal. However, the agent is directly bound to third parties. The agent is also bound to carry out the agency, is liable for damages caused by non-performance, and must finish business already begun if the principal dies and delay would cause danger.
This document discusses agency law and the obligations of agents. It defines different types of principals - disclosed, partially disclosed, and undisclosed. It states that if an agent acts in their own name, the principal has no right of action against third parties, nor do third parties have rights against the principal. However, the agent is directly bound to third parties. The agent is also bound to carry out the agency, is liable for damages caused by non-performance, and must finish business already begun if the principal dies and delay would cause danger.
principal has no right of action against the persons with whom the agent has contracted; neither have such persons against the principal. ARTICLE 1883
If such case, the agent is the one directly bound in
favor of the person with whom he has contracted, as if the transaction were his own, except when the contract involves things belong to the principal.
The provisions of this article shall be understood to
be without prejudice to the actions between the principal and agent. KINDS OF PRINCIPAL
Disclosed Principal – if at the time of the
transaction contracted by the agent, the other party thereto has known that the agent is acting for a principal and of the principal’s identity. KINDS OF PRINCIPAL
Partially Disclosed Principal – if the other
party knows or has reason to know that the agent is or may be acting for a principal but is unaware of the principal’s identity. KINDS OF PRINCIPAL
Undisclosed Principal – if the party has
no notice of the fact that the agent is acting as such for a principal. ARTICLE 1884
The agent is bound by his acceptance to carry out
the agency and is liable for the damages which, through his non – performance, the principal may suffer.
He must also finish the business already begun on
the death of the principal, should delay entail any danger. SOME of the Specific Obligations of Agent to Principal