Template:Misrepresentation by agent: Difference between revisions

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 Where your client’s obligations under the {{isdama}} are stewarded by an [[agent]] — quite common for an [[investment manager]] trading on behalf of a [[fund]] [[principal]] — you might think about asking the [[agent]] to represent on its own behalf about its role as [[agent]], in the ISDA. You may like to hear it confirm its ongoing authority to bind the [[principal]] and place orders on its behalf. You may wish it would confirm its regulatory authorisation and and vouch for its own [[good standing]], and to the continued involvement of its [[key person]]s in making investment decisions. [[Mediocre lawyer|Imaginative counsel]] can no doubt dream up others.
-But tarry a while. Firstly, your [[investment manager]] will sign as [[agent]], for the [[client]], not on its own behalf. For many this will be an article of profound faith: those will be at some pains, which they will willingly inflict on you, to avoid the barest hint they are speaking for themselves on a trading contract. When an [[agent]], ''as'' [[agent]], opens its mouth, it becomes its [[principal]] for all purposes that interest the law. As far as the [[Courts of Chancery|courts of chancery]] are concerned, it has wholly transubstantiated ''into its client''. Transmogrified. For all forensic intents an agent is no longer itself; it is just the earthly representation of its principal.
+But tarry a while. Firstly, your [[investment manager]] will sign as [[agent]], for the [[client]], not on its own behalf. For many this will be an article of profound faith: they will be at some pains, which they will willingly inflict on you, to avoid the barest hint they are speaking for themselves. “When an [[agent]], ''as'' [[agent]] opens its mouth,” they will tell you, “it becomes its [[principal]] for all purposes that interest the law.”
+And so it does. As far as the [[Courts of Chancery|courts of chancery]] are concerned, to be an [[agent]] is to be wholly [[transubstantiation|transubstantiated]] ''into the person of the [[principal]]''. Transmogrified. It is, for all forensic intents to disappear; your ghostly outline may still be there, but it is a chimaera: you exist only to be the earthly representation of your [[principal]].
+Which cast a pall over the representations you are being asked to make.
+That