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Part III Formation of The Contract, 13 Agency

From: Global Sales and Contract Law

Ingeborg Schwenzer, Pascal Hachem, Christopher Kee

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 24 September 2020

Subject(s):
Authority of agent — Termination of agency — Agent's duties and liabilities — Third parties — Unidroit Principles and choice of law
13.01 Modern commercial transactions cannot be conceived without intermediaries interacting on behalf of those parties which will finally be the contracting partners. Such persons acting on behalf of others are regarded as agents. Those for whom the agents are acting—the principals—are bound by the agents’ act and thus subject to the rights and duties arising from the thereby concluded contract.1 The agent, in contrast, is not a party to the contract.2 For the general concept of agency it matters not whether the principal is a natural person or—as usually in...
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