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Question 3

TYPES OF AGENT
General Agent
Gereral agent is the person who carry out the contract on the behalf of the principal with
unlimited authority. Besides that, he or she as a agent representative his or her principal
in decision making for the business operation.
Special Agent
Special agent is the person who has the authority in a specific task on the behalf of
principal. After the task has been settle, the agreement of the agent will be terminated.
Agent of Necessity
Agent of necessity is the agent represent his or her principal when there is emergency but
he or she have no rights from the principal to make the desicion. The agent only try to
reduce the loss or damage to the principal althought there might not have the formal of
formation to the agency.
Broker
Broker is the agent that act as a middle person between the seller and buyer for a business
transaction where the seller want the thing. The transaction will settle by the agent on the
behalf of principal with the buyer.
Del Credere Agent
Del credere agent not only make decision on the behalf of the principal or as a broker in
the business transaction, he or she also want to get benefit from it. For example, when he
or she act of middle person for the business transaction, he or she wish to get the
commission when help the seller sell of the business product.
TERMINATION OF AGENCY CONTRACT
1) Termination through the operation of law

1. Expiry - some of agency agreement only for certain period of time. After reach
the time where stated in the agreement, the termination will be automatically
takes place.
2. Fulfillment - a certain of agency agreement form is for a certain purpose or certain
duty of the agent. After the settlement of the purpose or duty of the agent, the
agreement between the agent and the principal will be terminated.
3. Death or lunacy - when either the parties of agent or principal found out death or
lunacy, the agreement between them will be automatically terminated.
2) Termination through the act of parties
4. Principal - the principal will give a notices to the agent when he or she want to
terminate the agreement between he or she with the agent. By doing that, when
the agent having problem and the principal doesn't need to responsible for it.
5. Agent - the agent can terminate the agreement between him or her with the
principal by giving notices to the principal. But he or she have to take responsible
when the principal having problem.
6. Both parties - the agent and principal can terminate the agreement of agency
together when both of them had done duties as an agent and duties as a principal.