Undisclosed agent: Difference between revisions
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A charlatan, basically. The kind of knave who tells you, ''after'' having concluded a transaction with you, that he is in fact acting as [[agent]] for someone else, in doing so trying to claim he is not himself [[principal|principally]] liable for the legal consequences of what he has done. | A charlatan, basically. The kind of knave who tells you, ''after'' having concluded a transaction with you, that he is in fact acting as [[agent]] for someone else, in doing so trying to claim he is not himself [[principal|principally]] liable for the legal consequences of what he has done. | ||
Don’t believe a word of it. An [[agent]] who doesn’t tell you he’s an [[agent]] is a [[principal]]. | |||
If you want authority for that statement, take yourself back to your very first contract law lecture, the one which outlined the essential ingredients of a bargain: [[offer]], [[acceptance]] and [[consideration]]. The terms offered and accepted bind. If the “[[agent]]” made no mention of his “agency”, it is not a term of the contract, and he is yours, fully liable as principal, to throw into the snarling teeth of the common law of contract. | If you want authority for that statement, take yourself back to your very first contract law lecture, the one which outlined the essential ingredients of a bargain: [[offer]], [[acceptance]] and [[consideration]]. The terms offered and accepted bind. If the “[[agent]]” made no mention of his “agency”, it is not a term of the contract, and he is yours, fully liable as principal, to throw into the snarling teeth of the common law of contract. | ||
===[[Undisclosed principal]]=== | ===[[Undisclosed principal]]=== | ||
This should be contrasted with the fellow who tells you in good time | This should be contrasted with the fellow who tells you in good time he’s an [[agent]], all right, but just not for ''whom''. More about that fellow can be found [[undisclosed principal|here]]. (in short, though, he too is ''effectively'' liable as principal (even if technically still an agent) until he’s told you who his client is). | ||
{{seealsoagent}} | {{seealsoagent}} | ||
Revision as of 15:40, 21 September 2016
A charlatan, basically. The kind of knave who tells you, after having concluded a transaction with you, that he is in fact acting as agent for someone else, in doing so trying to claim he is not himself principally liable for the legal consequences of what he has done.
Don’t believe a word of it. An agent who doesn’t tell you he’s an agent is a principal.
If you want authority for that statement, take yourself back to your very first contract law lecture, the one which outlined the essential ingredients of a bargain: offer, acceptance and consideration. The terms offered and accepted bind. If the “agent” made no mention of his “agency”, it is not a term of the contract, and he is yours, fully liable as principal, to throw into the snarling teeth of the common law of contract.
Undisclosed principal
This should be contrasted with the fellow who tells you in good time he’s an agent, all right, but just not for whom. More about that fellow can be found here. (in short, though, he too is effectively liable as principal (even if technically still an agent) until he’s told you who his client is).
See also
- Agent
- Principal
- Riskless principal
- Undisclosed agent (a.k.a. knave)
- Undisclosed principal