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Undisclosed Principal
In agency law, an undisclosed principal is a person who uses an agent for negotiations with a third party who has no knowledge of the identity of the agent's principal. Often in such situations, the agent pretends to be acting for themselves. As a result, the third party does not know to look to the real principal in a dispute. Under United States law according to the Restatement (Third) of Agency ยง 2.06, an undisclosed principal may still be held liable to a third party who justifiably is induced to make a detrimental change in position, even if the agent lacked actual authority to act on behalf of the principal, so long as the undisclosed principal had notice of agent's conduct and that it might induce the third party to change its position, and the principal did not take reasonable steps to notify the third party of the facts. Even where an undisclosed principal has previously forbidden the agent to take some action or incur some debt, the undisclosed principal may be liabl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Agency
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal (commercial law), principal) to create legal relations with a third party. It may be referred to as the equal relationship between a principal and an agent whereby the principal, expressly or implicitly, authorizes the agent to work under their control and on their behalf. The agent is, thus, required to negotiate on behalf of the principal or bring them and third parties into contractual relationship. This branch of law separates and regulates the relationships between: * agents and principals (internal relationship), known as the principal-agent relationship; * agents and the third parties with whom they deal on their principals' behalf (external relationship); and * principals and the third parties when the agents deal. Concepts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Principal (commercial Law)
In commercial law, a principal is a person, legal or natural, who authorizes an agent to act to create one or more legal relationships with a third party. This branch of law is called agency and relies on the common law proposition (from Latin: "he who acts through another, acts personally"). It is a parallel concept to vicarious liability (in which one person is held liable for the acts or omissions of another) in criminal law or torts. Concepts In a busy commercial world, the smooth flow of trade depends on the use of agents. This may be because in business entities such as: * sole traders, their ability to conduct business will always be limited unless other people are used to work on their behalf; *a partnership, the natural persons who are involved cannot be present to conduct business in multiple locations simultaneously, so they must rely on others to make agreements or deliver services on their behalf; or *a corporation is only a legal entity or fictitious leg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Restatement (Third) Of Agency
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Restatement may refer to: *Restatements of the Law, published by the American Law Institute as scholarly refinements of black letter law; these include: ** Restatement of Contracts, Second, completed by the American Law Institute in 1979 * Restatement of Policy on Germany, a famous speech by James F. Byrnes, then United States Secretary of State, held in Stuttgart on September 6, 1946 * Restatement (finance), the amendment and republication of a company's financial statement to correct an error, or change in accounting standard *Repetition (music) Repetition is important in music, where sounds or sequences are often repeated. It may be called restatement, such as the restatement of a theme (music), theme. While it plays a role in all music, with noise and musical tones lying along a spect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Holdout Problem
In finance, a holdout problem occurs when a bond issuer is in default or nears default, and launches an exchange offer in an attempt to restructure debt held by existing bond holders. Such exchange offers typically require the consent of holders of some minimum portion of the total outstanding debt, often in excess of 90%, because, unless the terms of the bond provide otherwise, non-consenting bondholders will retain their legal right to demand repayment of their bonds at par (the full face amount). Bondholders who withhold their consent and retain their right to seek the full repayment of original bonds, may disrupt the restructuring process, creating a situation known as the holdout problem. The contractual terms for obligating all bondholders to accept a restructuring approved by some supermajority is typically spelled out in what are known as Collective Action Clauses, or CACs. In some jurisdictions, CACs or their equivalents are required under local law, but this is n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walt Disney World
The Walt Disney World Resort is an destination resort, entertainment resort complex located about southwest of Orlando, Florida, United States. Opened on October 1, 1971, the resort is operated by Disney Experiences, a division of the Walt Disney Company. The property covers nearly , of which half has been developed. Walt Disney World contains numerous recreational facilities designed to attract visitors for an extended stay, including four theme parks, two water parks, four golf courses, conference centers, a competitive sports complex and a shopping, dining and entertainment complex. Additionally, there are 19 Disney-owned resort hotels and one camping resort on the property, and many other non-Disney-operated resorts on and near the property. Designed to supplement Disneyland in Anaheim, California, which had opened in 1955, the complex was developed by Walt Disney in the 1960s. Walt wanted to build a new park because Disneyland in California was limited from expanding ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Orange County, Florida
Orange County is a county located in the central part of the U.S. state of Florida. As of the 2020 United States census, 2020 census, the county had a population of 1,429,908, making it the fifth-most populous county in Florida and the List of the most populous counties in the United States, 28th-most populous county in the United States. Its county seat is Orlando, Florida, Orlando, which, along with it being the county's largest city, is the core of the Greater Orlando, Orlando metropolitan area, which had a population of 2.67 million in 2020. As of 2022, Orange County has a gross domestic product of $115 billion, the third-largest GDP of Florida's 67 counties and the List of US counties with GDP over 50 billion US dollars, 27th-largest for the nation's 3,033 counties. The county is a tourist, economic, and cultural hub for the Central Florida region. Popular destinations within the county include Walt Disney World, Universal Orlando, SeaWorld Orlando, Icon Park, Kia Center, D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walt Disney Productions
The Walt Disney Company, commonly referred to as simply Disney, is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was founded on October 16, 1923, as an animation studio, by brothers Walt Disney and Roy Oliver Disney as Disney Brothers Cartoon Studio; it later operated under the names Walt Disney Studio and Walt Disney Productions before adopting its current name in 1986. In 1928, Disney established itself as a leader in the animation industry with the short film ''Steamboat Willie.'' The film used synchronized sound to become the first post-produced sound cartoon, and popularized Mickey Mouse, who became Disney's mascot and corporate icon. After becoming a success by the early 1940s, Disney diversified into live-action films, television, and theme parks in the 1950s. However, following Walt Disney's death in 1966, the company's profits, especially in the animation sector, b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Watteau V Fenwick
''Watteau v Fenwick'' 8931 QB 346 is an 1893 English case decided by the Queen's Bench. The case addresses the liability of an undisclosed principal. The plaintiff, Watteau, supplied cigars to a beer house named the "Victoria," which was located at Middlesbrough. The establishment was operated by a man named Humble. Prior to 1888, he had operated the business on his own account, but in that year, he had assigned his interest to the defendants, Messrs. Fenwick and Company. However, Humble remained the manager and continued to operate the business as before. The sign bore his name, and the license was held in his name. The plaintiff supplied cigars and bovril to Humble. He was at all times unaware of Fenwick's involvement. Indeed, Fenwick had never given Humble any authority to act on their behalf. But when Watteau was not paid the 25 pounds owed him, he eventually sued Fenwick. The County Court held that the defendants had held Humble out to the world as having general auth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
