Distinction between Agency

Loan Advanced money to another is expressly regarded as money lent. Borrows money to conduct a business in which the lender has no interest or concern in the manner of its conduct is not an agent of the lender but the financing of operations. Given money for purposes of his own and he must return it whether or not his business is successful. natures of relationship created After the checks converted into cash, the creditor and debtor relationship created between the depositors of the bank.

Lease Service

Independent Contract

Partnership

No agency results

Not agent of the lender its the principal

A fund given to advance latters business. When the checks deposited to the banks

When the bank collect from the drawees of the checks

Debtor and creditor Deposits money with a bank relationship between the instructions apply satisfaction of bank and the depositor is the debt of third person created

On the part of bank to pay the debt Representation Agent exercisess discretionary powers Three (3) persons are involved: principal, agent and the third person with whom the agent contracts Relates to commercial or business transactions Represents his principal Acts under the principal's control and instruction Principal is liable for torts committed by the agent within the scope of his authority

Revocable at the will of the depositor Employment Lessor ordinarily performs only ministerial functions Two persons are involved: lessor and lessee Relates more to the matters of mere manual or mechanical execution Employed by the employer Acts according to his own method Employer not liable for torts committed by the independent contractor. A co-partner is not subject to co-partner's right to control, unless there is an agreement to that effect. The partner binds not only the firm members but himself as well.

An agent must submit to the principal's right to control

The agent assumes no personal liability where he acts within the scope of his authority

The agent takes his agreed share of profits not as owner but as an agreed measure of compensation for his services.

The profits belong to all the partners as common proprietors in agreed proportions.

Representation is expressly conferred

Agent acts according to the express will of the principal Contract Engaged in the purchase or sale for another of personal property.

Agent receives a commission upon the successful conclusion of a transaction such as sale. Agent receives the goods as the principal's goods Agent delivers the proceeds of the sale Agent can return the object in case he is unable to sell the same to a third person

In agency, where the principal entrusted the sale of a property to the agent and with authority to sell

Power to bind the agent in personal liability of the principal

Loyalty or obedience of the agent to the principal Agent represents a capacitated person

Agent is appointed by the principal and can be removed by the latter Agent is subject to the directions of the principal

Agent can make the principal personally liable.

The agent represents and acts for his principal.

In general may be revoked at any time.

It is formed with the thought of constant control by principal.

Incidentally, a director of a corporation acts in a fiduciary capacity but the relationship is not of trust but agency.

Agent is only answerable to his principal. Agent is not required to file a bond.

The protection which the law gives the principal can only be through agreements.

Negotiorum Gestio

Brokerage

Sale

Bailment

Guardianship

Trust

It is not only without the authority of the owner of the business but is without his knowledge. Gestor acts according to the presumed will of the owner by exercising Quasi-contract Broker has no relation with the thing he buys or sell. Broker earns his pay merely by bringing the buyer and the seller together, even if no sale is eventualy made. Buyer receives the goods as owner Buyer pays the pride Buyer, as a general rule, cannot return the object sold.

In the case of bailment, the relation of principal and agent does not exist as the bailor has no control over the bailee beyond what is given him by contract, and is not responsible to others for his acts. A bailee over whose actions the bailor has no control is not an agent eventhough he acts for the benefit of the bailor. A bailee acting on behalf of himself and whose interests are antagonistic to those of his bailor is not an agent of the bailor The bailee is not possessed of no power to bind the bailor in personal liability Bailee owes neither loyalty nor obedience to the bailor A guardian represents an incapacitated person.

Guardian is appointed by the court and stands in loco parentis Guardian is not subject to the directions of the ward but must act for the benefit of the latter. Guardian has no power to impose personal liability on the ward. The title and control of the property passes to the trustee who acts in his own name. May ordinarily be terminated only by fulfillment of its purpose. It is based on the idea of discretion in the trustee and guidance by the settler or cestui only to a limited extent and when expressly provided for.

But while trust is not an agency, it is possible for the trustee to be an agent also where extensive direction and control are kept over the trustee.

Judicial Administration

Judicial administrator is appointed by the court. Judicial administrator is required to file a bond. Acts of a judicial administrator are subject to specific provisions of law and orders of the appointing court.