Agency Agreement Act

On April 8, 2021 by heart

If the seller changes his mind at the signing of a single agency contract, he can terminate it (in writing, by letter, fax or e-mail) until 5:00 p.m. on the first business day after signing a copy of the agreement. A famous example of an unnamed agency is when agents acted in Florida in the 1960s on behalf of the Walt Disney Company, the unnamed sponsor. Disney has allowed agents to attempt to acquire land in Orlando for Walt Disney World. The purpose of the brokers was to convince the landowners to sell their property without the owners knowing why the broker was buying it. After the sale of their property, the previous owners learned that Disney was the unknown sponsor. If the landowners had known that the brokers represented Disney, the landowners would undoubtedly have asked for much more money to sell their land, or even refused to sell until they received more compensation. 1. Overview The end of an agreement is as important as its beginning.

A change in the business climate or objectives of the parties may indicate that it is time to terminate the contract and relieve the parties of their obligations. A clean break will ensure the safety of both parties, respect their commitments and lead to an amicable conclusion of the agreement. Another important judgment, which emphasizes the importance of the applicable law, is the so-called UNAMAR decision. The result of this decision is that a Dutch client, who appoints a Belgian representative and makes a legal choice in favour of Dutch law, is not obliged to subject the client to the wider protection of the agent under Belgian law, unless the Belgian court decides that strengthening the protection of the Belgian representative serves a fundamental national interest. According to the European Court of Justice, this last point is not easily plausible. The main rule, therefore, is that the agency contract is, in principle, exclusively governed by the law provided for by the treaty. To avoid misunderstandings, it is of the utmost importance to include the applicable law in the treaty as clearly as possible, in order to avoid disputes about it and to tell you where you stand.

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