European commercial law - commercial agency
7 important questions on European commercial law - commercial agency
Definition of a commercial agent
Does a commercial agent have the power to enter binding commitments on a company or partner?
also he is not a receiver, receiver and manager, trustee in bankruptcy, or a liquidator
What are the obligations of the commercial agent and get a little more detailed
- make proper efforts to negotiate and where he can conclude the transaction instucted by the principal
- communicate all the available info to the principal
- comply with the instructions given by the principal
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What are the obligations of a principal?
- must provide the commercial agent with the necessary documentation on the subject
- communicate in a timely manner to the agent that the volume of the transaction will be significantly lower than the agent thought
- inform in a timely manner if the transactions is refused, accepted which the agent procured for the principal
How is the contract of a commercial agent managed?
- Fixed or indefined
- if undefined, 1 month for 1y, 2 month for 2y and if more 3 months
In which case does a commercial agent get an indemnity
the indemnity will be more or less equal to the compensation the agent missed on the business transacted with these customers
What is the max period for a restaint of trade clause?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
