Agency is a relationship existing between two parties called principal and agent, and in the case of property, a Jamaica real estate agent has the function to create a contractual relationship between the principal and third parties.
The Creation of Agency The power of the Jamaica property agent to act may arise in any one of five ways: 1.
Express Authority 2, Apparent Authority 3.
Ratification 4.
Necessity S.
Presumption of wife in the case of cohabitation.
1.
Express Authority The express authority for an agent to act on behalf of a principal (otherwise called the vendor) can be made either in writing or orally.
No formality is required except where the agent is appointed to execute a deed; his authority must be by way of a deed.
That is, he is to be given a Power of Attorney.
While being trained Jamaica realtors are sensitized of this in a special apartment guide for Jamaica.
2.
Apparent Authority This arises where the principal represents to a third party that the agent is authorized to act on his behalf, intending that the representation be acted upon and is acted upon by the third party.
The principal is bound by the agreement entered into by the agent.
This is common place for most Jamaica home rentals.
3.
Ratification Where the agent has no authority to contract on behalf of the principal or exceeds such authority the contract is not binding on the principal.
The principal may however afterward confirm and adopt the contract so made.
This is known as ratification.
For Ratification to take place the following conditions must be present: a) The agent must have contracted expressly as agent for a named principal.
b) The principal must have been in actual existence at the time of making the contract.
He cannot there pore bind a company which was not formed at the time of making the contract, c) The contract should be capable of ratification.
Thus a void contract cannot be ratified.
d) The principal must at the time of the ratification have full knowledge of the material facts.
e) Ratification must be of the whole contract.
Ratification is retrospective in its operation, that is, the parties are put in the position they would have been in if the agent had when the contract was made, the authority he purported to have had.
This is possibly the most fundamental with respect to knowledge of the Jamaica real estate market.
Most investors are made aware of ratification in a guide to investing in Jamaica property.
4.
Agency of Necessity This arises by operation of law and occurs where one person is entrusted with another's property and due to some emergency it becomes necessary to do something to preserve that property.
Although the person entrusted with the property has no express authority to do the act necessary to preserve it, because of the necessity, the authority is presumed.
Before the Agency of Necessity arises three conditions must be satisfied; a) It must be impossible to get the principals' instructions.
b) As a necessity, commercial value must be the catalyst for the creation of the agency c) The agent of necessity must act in the interests of all parties concerned.
5.
Agency of Cohabitation At common law where a husband and wife are living together, the wife is presumed to have her husband's authority to pledge his credit for necessaries judged according to his style and standard of living.
Though not a legal representation of the principal, this happens more often than not in the divestment of Jamaica homes for sale.
The presumption of Agency arises from cohabitation and not from marriage.
It has been held to apply equally in the case of a woman living with a man as his mistress; the presumption can be rebutted if the husband proves: a)he expressly forbade his wife to pledge his credit; b)he expressly warned the supplier not to supply his wife with goods on credit: c)his wife was already sufficiently supplied with goods of the kind in question; d)his wife was supplied with a sufficient allowance or sufficient means for the purpose of buying such as goods without pledging the husbands credit, e)The order though for necessaries, was excessive in extent or having regard to the husband's income, extravagant.
Where the husband has been in the habit of paying his wife's bill with a particular supplier, his wife's agency will be presumed and he can only escape liability by expressly informing the supplier that his wife's authority is revoked.
The Creation of Agency The power of the Jamaica property agent to act may arise in any one of five ways: 1.
Express Authority 2, Apparent Authority 3.
Ratification 4.
Necessity S.
Presumption of wife in the case of cohabitation.
1.
Express Authority The express authority for an agent to act on behalf of a principal (otherwise called the vendor) can be made either in writing or orally.
No formality is required except where the agent is appointed to execute a deed; his authority must be by way of a deed.
That is, he is to be given a Power of Attorney.
While being trained Jamaica realtors are sensitized of this in a special apartment guide for Jamaica.
2.
Apparent Authority This arises where the principal represents to a third party that the agent is authorized to act on his behalf, intending that the representation be acted upon and is acted upon by the third party.
The principal is bound by the agreement entered into by the agent.
This is common place for most Jamaica home rentals.
3.
Ratification Where the agent has no authority to contract on behalf of the principal or exceeds such authority the contract is not binding on the principal.
The principal may however afterward confirm and adopt the contract so made.
This is known as ratification.
For Ratification to take place the following conditions must be present: a) The agent must have contracted expressly as agent for a named principal.
b) The principal must have been in actual existence at the time of making the contract.
He cannot there pore bind a company which was not formed at the time of making the contract, c) The contract should be capable of ratification.
Thus a void contract cannot be ratified.
d) The principal must at the time of the ratification have full knowledge of the material facts.
e) Ratification must be of the whole contract.
Ratification is retrospective in its operation, that is, the parties are put in the position they would have been in if the agent had when the contract was made, the authority he purported to have had.
This is possibly the most fundamental with respect to knowledge of the Jamaica real estate market.
Most investors are made aware of ratification in a guide to investing in Jamaica property.
4.
Agency of Necessity This arises by operation of law and occurs where one person is entrusted with another's property and due to some emergency it becomes necessary to do something to preserve that property.
Although the person entrusted with the property has no express authority to do the act necessary to preserve it, because of the necessity, the authority is presumed.
Before the Agency of Necessity arises three conditions must be satisfied; a) It must be impossible to get the principals' instructions.
b) As a necessity, commercial value must be the catalyst for the creation of the agency c) The agent of necessity must act in the interests of all parties concerned.
5.
Agency of Cohabitation At common law where a husband and wife are living together, the wife is presumed to have her husband's authority to pledge his credit for necessaries judged according to his style and standard of living.
Though not a legal representation of the principal, this happens more often than not in the divestment of Jamaica homes for sale.
The presumption of Agency arises from cohabitation and not from marriage.
It has been held to apply equally in the case of a woman living with a man as his mistress; the presumption can be rebutted if the husband proves: a)he expressly forbade his wife to pledge his credit; b)he expressly warned the supplier not to supply his wife with goods on credit: c)his wife was already sufficiently supplied with goods of the kind in question; d)his wife was supplied with a sufficient allowance or sufficient means for the purpose of buying such as goods without pledging the husbands credit, e)The order though for necessaries, was excessive in extent or having regard to the husband's income, extravagant.
Where the husband has been in the habit of paying his wife's bill with a particular supplier, his wife's agency will be presumed and he can only escape liability by expressly informing the supplier that his wife's authority is revoked.
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