Principal (commercial law)

About: Principal (commercial law) is a research topic. Over the lifetime, 1579 publications have been published within this topic receiving 35379 citations. The topic is also known as: Principal (commercial law).

The law of agency and partnership

Abstract: Agency Relation; Authority and Power of Agents; Ratification; Termination of Agent's Powers, Master and Servant, Notice and Knowledge; Duties of Agent to Principal; Duties of Principal to Agent; Duties of Principal to Third Party; Duties of Third Person to Principal; Duties of Agent to Third Party; Duty of Third Party to Agent; Common Law Rules and Statutory Modifications; Partnership; Relations Between Partners; Relations of Partners to Third Persons; Partnership Property; Dissolution; Bankruptcy; Taxation; Special Forms; Joint Ventures; Unincorporated Associations

The Copyright Designs and Patents Act 1988: The Triumph of Expediency over Principle

Abstract: On 14 November last year the Copyright Designs and Patents Act1 received the Royal Assent. It is scheduled to come into force sometime during the summer of 1989. The Act, which has taken some eleven years to reach the statute book, marks an epochal change in one of the principal ways in which the United Kingdom regulates its information economy. The principles which underlie the law of copyright are purely theoretical. Unlike theories in the natural and the social sciences, which seek to explain events in the real world and to have a predictive capacity, the theories of copyright law have been developed to regulate the relations between authors and their publishers, their works, and their users. They do not therefore arise out of the real world, but are imposed upon it, to achieve desired economic and political ends. The most influential 'theory' of intellectual property is that of the author's right, since it is an ideology which commands wide political assent. But in practice, copyright law is not derived from one overarching principle, but from the negotiation of a series of contradictory premises. Copyright law has to reconcile three separate interests, those of the author, the publisher, and the public.2 A theory of copyright law has been developed to justify each of these interests. For the author, the theory of the author's right is that of the right of the author to 'authorize', by legal contract, the use of the work. For the publisher, the theory of copyright is that of the right of the publisher to acquire from the author, and to control, the right to copy the work. While for the public, copyright serves the public by promoting the progress of science and the useful arts in society. Clearly these theories overlap. The theory of copyright requires the existence of an author to assign the copyright to a publisher. The theory of public service gives authors the rights in their works in order to promote the production of useful artefacts. And the theory of the author's right not only fulfils the needs of the publishers and the public, but seeks to transform these limited rights into a natural right of the author to control completely the use of the work. As

Multiple-task common agency with one fully-informed principal: implications for public policy

Abstract: This paper verifies the robustness of Dixit's claim that common agency problems in the public sector can be solved by restrictions on the incentive schemes that government agencies can develop for the subordinates of other departments. In our model, the outside principal (for instance, an environmental agency) offers side payments to the hierarchical superior of a public servant. As suggested by Dixit, the side payment is based only on the output that is of direct relevance for the outside principal (for instance, environmental quality). The hierarchical superior, however, can impose an enforceable effort allocation. We show that the outside principal will bribe the hierarchical superior to impose a zero effort level in the task that constitutes the core mission of his department, unless there exist both lower and upper limits to the transfers that can be made. Thus, without exogenous restrictions on side payments, common agency will lead to a collapse of the division of labor within government.

Charlesworth & Percy on negligence

Abstract: The meaning of negligence the duty to take care principal defencer and discharges from liability damages discovery, evidence, trial, proof of casual negligence the standard of care dangerous premises persons professing some special skill highways and transport employment at common law liability for breach fo statutory duty dangerous things, Ryladt versus Fletcher animals product liability death insurance and other compensation schemes.

Where Are Limited Liability Companies Formed? An Empirical Analysis

Abstract: We empirically study formation-state choices of limited liability companies (LLCs). Most firms in our large sample of almost 20,000 LLCs are formed in the state where their principal place of business is located. As their size increases, firms become more likely to be formed outside that state, with Delaware emerging as the primary destination for LLCs that are not formed in the state of the principal place of business. We demonstrate that substantive law matters when LLCs choose their formation state. Limited liability companies are less likely to incorporate locally if their home state offers lax norms for minority-investor protection or creditor-friendly rules for veil piercing. In addition to contributing to the debate on regulatory competition in the law, this paper has implications for theoretical debates pertaining to choice of law in veil-piercing cases, the role of default rules, and the relationship between corporations and LLCs.