BUSINESS LAW 1

Feb 3rd, 2012
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University of Texas at Austin
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RIGHTS OF PRINCIPAL

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Rights of Principal If an agent deals on his own account in the business of the agency, without first obtaining the consent of his principal and acquainting him with all material circumstances which have come to his own knowledge on the subject, the principal may repudiate the transaction, if the case shows either that any material fact has been dishonestly concealed from him by the agent or that the dealings of the agent have been disadvantageous to him.As a rule, an agent cannot deal on his account. Only after obtaining the consent of the principal and full disclosure of all material fact

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