Country: New Zealand

Question 3: (10 marks) Discuss the following as regard the agency as a legal mechanism: a) Identify and explain the factors that give rise to agency by estoppel. b) Under what conditions would an agent be personally liable to third parties for contractual and tortious wrongs. c) What does agency by ratification mean? d) Distinguish between express and implied authority of an agent e) Why are agents important in commercial life-give a practical example of an agency arrangement Question 3: (10 marks) Discuss the following as regard the agency as a legal mechanism: a) Identify and explain the factors that give rise to agency by estoppel. b) Under what conditions would an agent be personally liable to third parties for contractual and tortious wrongs. c) What does agency by ratification mean? d) Distinguish between express and implied authority of an agent e) Why are agents important in commercial life-give a practical example of an agency arrangement