This research paper analyses the duties of agents in law and contract validity conditions. Agents exist as a representation of the principal. The principal and the agent form a relationship called the agency. Therefore, the law of agency establishes a basis for how the relationship works. The agent is expected to perform various duties for the principal. One is acting on behalf of the principal in the best interest possible. Secondly, only perform what is assigned to him or her by the principal hence preventing a conflict of interest. Thirdly the agent is expected to perform all duties while upholding high standards of diligence and care. There are various documents essential for the registration process of a company.
REQUIREMENTS FOR CONTRACT EXISTENCE IN BUSINESS LAW
In business law, a contract is a binding agreement existent between two or more parties. Pre incorporation contracts are essential when undertaking the registration process of a company. They ensure that the definition of the partner’s duties and roles is clear. The functionality of a contract depends on the adherence to various set standards. There are four major contract validity conditions. Therefore, the contract must have these elements, agreement, capacity, consideration, and intention. The agreement is subdivided into offer and acceptance. Also, eligibility of the parties entering the contact based on existing conditions is crucial. In case an agent-principal exists, the clear definition of the duties of agents in law is equally essential.
requirements for contract existence in business law
DUTIES OF AGENTS AND DOCUMENTS NECESSARY FOR REGISTRATION OF A COMPANY
The registration process of a company requires essential documents according to the law. This section examines some of the ten documents for registration. One is company bylaws for incorporation that defines the mode of self-governance. Secondly, employee agreements that define the expectations and binding agreement between employees. Here, the observation of contract validity conditions is crucial. Thirdly, a business plan that clarifies the business’s operation direction is an essential document. A memorandum of understanding is another important document. It documents conversations with other parties, such as suppliers and potential partners. Therefore, following the set procedures in critically essential for the registration process.
documents necessary for the registration of a company
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