Behalf: Difference between revisions
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[[Behalf]] is a [[noun]] that, when rendered on the personal stationery of [[Legal eagle|our learned friends]], indicates an '''''[[agency]]''''' arrangement. | [[Behalf]] is a [[noun]] that, when rendered on the personal stationery of [[Legal eagle|our learned friends]], indicates an '''''[[agency]]''''' arrangement. | ||
A beer I hold [[for or on behalf of|for or on my client’s behalf]], remains my client’s while I hold it, my client being otherwise occupied with his one-handed push-ups or whatever other prowess or feat of strength it may have come into his mind to demonstrate. I am my client’s agent | A beer I hold [[for or on behalf of|for or on my client’s behalf]], remains my client’s while I hold it, my client being otherwise occupied with his one-handed push-ups or whatever other prowess or feat of strength it may have come into his mind to demonstrate. I am my client’s agent. | ||
There is a difference, that is to say, between money I ''owe'' you because we have entered some contract for a good or service, and money I ''hold for'' you because some other random, who owed it to you, gave me to pass on to you, ''a propos'' nothing beyond than my general preparedness to act [[for or on behalf of]] my dear friend. | And so to [[money]]; amounts I hold for and on your behalf do not correspond to my liabilities to you (except for the uncomfortable ontological fact that holding money for someone, ''a propos'' no other contract, of necessity ''generates'' a liability to repay it. There is a difference, that is to say, between [[money]] I ''owe'' you because we have entered some contract for a good or service, and [[money]] I ''hold for'' you because some other random, who owed it to you, gave me to pass on to you, ''a propos'' nothing beyond than my general preparedness to act [[for or on behalf of]] my dear friend. | ||
This may seem a tiresome point, but it is important when understanding the scope of the FCA’s [[client money rules]]. | This may seem a tiresome point, but it is important when understanding the scope of the FCA’s [[client money rules]]. | ||
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{{sa}} | {{sa}} | ||
*[[Agency]] | *[[Agency]] | ||
*[[Money]] | |||