LEARN MORE...

F160 Uniform Commercial Code Consideration

Content type

User Generated

Subject

Business

Type

Homework

Uploaded By

znlaneqgbby059

Pages

Showing Page:

1/4

Running head: UNIFORM COMMERCIAL CODE CONSIDERATION 1

Uniform Commercial Code Consideration

Institution Affiliation

Date

Showing Page:

2/4

UNIFORM COMMERCIAL CODE CONSIDERATION 2

Discuss important elements of agency law related to employee commitments to other

companies.

There are several laws that govern contracts one of them being the agency law. The

law of agency is used to regulate contractual relationships that exist between a person

referred to as an agent who has the permission to act on behalf of another person who is

known as the principal (Dewing, 2015). The agent will create associations with a third party

on behalf of the principal. The principal will give the agent express or implicit permission to

work on their behalf. The agent will them negotiate and even form more relationships with

other third parties on behalf of the principal.

Most business owners rely on their staff or employees to conduct their business. The

employees are bound by a contract that they enter into which gives the details of what their

roles are. The contract remains valid for as long as the employee performs their duties as is

expected of them. The employee is also not allowed to work for any other company in a way

that will violate the contract they have with their employer. The law also allows the principal

to terminate the contract should they discover that the agent is going against the terms they

had agreed on in the contract.

Explain the provisions in the Uniform Commercial Code that are important

when one company finds it necessary to stop the shipment of products from their

subcontract supplier

The uniform commercial code is used to harmonize all the laws that govern sales

between companies and any other transactions in the United States. The uniform commercial

code is similar across all states. Some of the transactions that are governed by the uniform

commercial code are borrowing money, leases, contract and sale of goods (Martin, Marks &

Barnes, 2015) Any business that does transactions outside their state must comply with the

Showing Page:

3/4

End of Preview - Want to read all 4 pages?

Access Now

Unformatted Attachment Preview

Running head: UNIFORM COMMERCIAL CODE CONSIDERATION Uniform Commercial Code Consideration Institution Affiliation Date 1 UNIFORM COMMERCIAL CODE CONSIDERATION 2 Discuss important elements of agency law related to employee commitments to other companies. There are several laws that govern contracts one of them being the agency law. The law of agency is used to regulate contractual relationships that exist between a person referred to as an agent who has the permission to act on behalf of another person who is known as the principal (Dewing, 2015). The agent will create associations with a third party on behalf of the principal. The principal will give the agent express or implicit permission to work on their behalf. The agent will them negotiate and even form more relationships with other third parties on behalf of the principal. Most business owners rely on their staff or employees to conduct their business. The employees are bound by a contract that they enter into which gives the details of what their roles are. The contract remains valid for as long as the employee performs their duties as is expected of them. The employee is also not allowed to work for any other company ...
Purchase document to see full attachment

Tags: detailed Greatness