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- exclusive agency - A specific type of agreement typically used in real estate sales where the property owner promises not to hire any other agents to sell the property except for the one they've already hired for a predetermined period
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Agency, in law, the relationship that exists when one person or party (the principal) engages another (the agent) to act for him—e.g., to do his work, to sell his goods, to manage his business. The law of agency thus governs the legal relationship in which the agent deals with a third party on.
Apr 23, 2023 · Understand why agency law is important. Recognize the recurring legal issues in agency law. Know the types of agents. Understand how the agency relationship is created.
Nov 16, 2015 · Exclusivity, sole, and nonexclusivity – what it can mean for you. A key issue in the appointment of an agent is the extent of the appointment. This is usually expressed in terms of the appointment being on an exclusive, sole, or non-exclusive basis.
- Disputes relating to the entity signing the EAA. EAA partnership is a type of commercial agent agreement relationship. Therefore, both the principal and the agent entering the EAA must be enterprises, whether Vietnamese or international traders.
- Dispute arising from a breach of the exclusivity clause. Exclusivity is a fundamental feature that distinguishes an EAA from other agent arrangements.
- Disputes when the goods are at risk. By law, the principal is the legal owner of the goods, therefore, when a risk of goods occurs, the principal is usually made responsible.
- Dispute arising from violating payment obligations. The EAA could be long-term, thus payment will be divided into several installments, and promotions and discounts will frequently occur.
exclusive agency - A specific type of agreement typically used in real estate sales where the property owner promises not to hire any other agents to sell the property except for the one they've already hired for a predetermined period.
An Exclusive Agency Agreement is a legal contract between a real estate firm and home seller that grants the firm the right to be the only entity to market and sell a property. In other words, this agreement gives the real estate agent the right to be the only agent to sell the property.
Aug 5, 2012 · Chapter 1 begins by attempting to define the law of agency by providing several examples from commercial law scholars, illustrating the difficulty experienced by the courts in England and Wales in defining the term ‘agency’.
