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How can an agent avoid incurring personal liability while acting on behalf of his principal especially if the principal is either unknown or insists on remaining anonymous?
Wiki User
∙ 15y ago
Due diligence and insurance... or don't do business with that party.
Wiki User
∙ 15y ago
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Is there a liability to being a power of attorney?
Yes. There could be personal liability if you engage in self-dealing, fail to maintain good records, co-mingle funds, convert the principal's assets to your own use or mis-manage the principal's assets.
What is 'vicarious liability'?
Vicarious liability is a legal doctrine where one party is held responsible for the actions of another party. It is often applied in employer-employee relationships, making the employer liable for the actions of their employees performed within the scope of their employment. This principle allows for injured parties to seek compensation from the employer rather than solely the individual who caused harm.
Is any Annual Maintenance Worker's Provident Fund liability of Principal Employer?
If the worker is on the company's payrolls - Yes
Do you sue the power of attorney or the person he represents?
Any act that the agent completes for the principal in good faith is considered legal.However, they can be sued if they act irresponsibly with the principal's assets or engage in self dealing. They can also be prosecuted. An attorney in fact under a power of attorney is subject to all laws that govern fiduciaries.
An extensive mountain range especially the principal mountain system of a Continent?
The extensive mountain range is known as a mountain range, and the principal mountain system of a continent is referred to as a continental mountain range. They are characterized by their significant size and their role in shaping the landscape and climate of the continent. Examples include the Rocky Mountains in North America and the Andes in South America.
What does the D in the Documentary theory stands for?
The 'D Source' was, of course, anonymous but is called the 'Deuteronomist' because the Book of Deuteronomy was the source's principal contribution to the Pentateuch.
What are the principal forms of business organization?
The principal forms of business organization include sole proprietorships, where one person owns the business, and corporations, which are legal entities separate from their owners, often with shareholders and a board of directors.
Whether principal employer has any liability for making payment reimbursement of bonus for the contractor worker as per payment of bonus act 1965?
it is booo
Where does letter of credit comes in balance-sheet?
Since a letter of credit is not a liability until it is drawn against, typically it would be omitted from the balance sheet... although it MAY be disclosed in the footnotes to the financial statements. Once it has been drawn against, it is presented in the liability section of the balance sheet, and the repayment terms would dictate how it is presented, but typically the portion of principal due within the next 12 months would be presented as a current liability, and the balance would be presented as a long-term liability.
Current installment of long term debt?
The current portion of long-term debt is usually broken out to an a liability account known as Current Portion-Long Term Debt. This is usually for a 12-month period. Using the amortization schedule for the loan, debit the long-term note account for the 12 month period of principal and credit the short-term liability account. Then when the payment is made, debit the principal to the short-term account and the interest to interest expense.
What is the meaning of dinner?
The principal meal of the day, eaten by most people about midday, but by many (especially in cities) at a later hour., An entertainment; a feast.
How do you sign when you have a power of attorney in California?
Disclose your identity as an agent whenever you act for the principal by writing or printing the principal's name and signing your own name as "attorney-in-fact" in the following manner:(Principal's Name) by (Your Signature) attorney-in-fact, or(Your signature) as attorney-in-fact for (Principal's Name).You sign the principal's name on the signature line and under the signature line you should write or type some form of "by so-and-so as attorney in fact". You are acting as a stand in for the principal. Especially in property transfers it is important to sign the principal's name since they are the owner of the property and they have given you the authority to sign their name.
