82,891
edits
Undisclosed principal: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 7: | Line 7: | ||
{{quote| | {{quote| | ||
It is unquestionably the general rule of our law that an [[undisclosed principal]], when subsequently discovered, may, at the election of the other party, if exercised within a reasonable time, be held upon all simple [[non-negotiable]] contracts made in his behalf by his duly authorized {{tag|agent}}, although the contract was originally made with the {{tag|agent}} in entire ignorance of the {{tag|principal}}. | It is unquestionably the general rule of our law that an [[undisclosed principal]], when subsequently discovered, may, at the election of the other party, if exercised within a reasonable time, be held upon all simple [[non-negotiable]] contracts made in his behalf by his duly authorized {{tag|agent}}, although the contract was originally made with the {{tag|agent}} in entire ignorance of the {{tag|principal}}. | ||
::Mechem on Agency, 2nd Ed., § 1731 | ::Mechem on Agency, 2nd Ed., § 1731 }} | ||
Where an agent strikes a bargain without revealing its principal’s identity, it puts the counterparty at a disadvantage, since the counterparty does not, and cannot, know against whom it should seek to enforce the bargain. | Where an agent strikes a bargain without revealing its principal’s identity, it puts the counterparty at a disadvantage, since the counterparty does not, and cannot, know against whom it should seek to enforce the bargain. | ||