Lesson Notes By Weeks and Term - Senior Secondary School 3

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  4. Law of agency II

Term: 1st Term

Week: 5

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Commerce

Topic:-      Law of agency II

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. State the right of the agents
  2. State the rights of the principal
  3. Discuss the conditions by which agency can be terminated

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on laws of agency

Students pay attention

STEP 2

EXPLANATION

She states the rights of agents

She also states the rights of the principal

 

Students pay attention and participates

STEP 3

DEMONSTRATION

She further discusses the conditions for which agency can be terminated

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

RIGHTS OF THE AGENTS

  1. Right of lien over the goods he sells. If he has assumed liability for payment of the purchase price to the principal, he has the right to stop the goods from being consigned to his principal.
  2. He has the right to obtain refund of all expenses incurred on behalf of the principal.
  3. He has the right to be indemnified for losses incurred in the course of the agency.
  4. He has the right to his commission or remuneration.

 

RIGHTS OF THE PRINCIPAL

  1. Repudiation of the contract.
  2. Sue the agent for default.
  3. He can sue the third party for default.
  4. Takes over the secret profit made by the agent.
  5. Refusal to pay the agreed commission.
  6. Dismissal of the agent

 

CONDITIONS FOR WHICH AGENCY CAN BE TERMINATED

  1. Bankruptcy of the principal.
  2. Insanity of agent or principal.
  3. Death of either the principal or agent.
  4. By mutual agreement.
  5. By completion of the agreement.
  6. Breach of contract.
  7. Frustration of the agency.
  8. Illegality of object.
  9. By lapse of time.

 

EVALUATION:   1. State the rights of the agent

  1. State the rights of the principal
  2. Outline the conditions for which agency can be terminated

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively