Table of Contents
Introduction……………………………………………………………………………...3
Agency Law……………………………………………………………………….... 3 - 5
Business Entities ……………………………………………………………………..5 - 7
E-Business ……………………………………………………………………..……8 - 11
Conclusion …………………………………………………………………..……….... 11
References ……………………………………………………………………………....12
Introduction
In the case of Lubetzky V. U.S. 393 F. 3d 76, Under federal tax law, a person is personally liable for willfully failing to pay federal withholding taxes if the defendant knew that the taxes were due from his employer yet failed to pay the taxes. In this case many issues were examined to form the outcome. The business entity in place was considered as well as the effect of e-business on the legal environment. Agency law also played a large role in the final out come of the case.
Agency Law
Agency law is an area of commercial law dealing with a contractual set of relationships when an Agent is authorized to act on behalf of another to create a legal relationship with a Third party. It is referred to as the relationship between a principal and an agent whereby the principal, expressly or implied, authorizes the agent to work under his control and on his behalf. The agent is, thus, required to negotiate on behalf of the principal or bring him and third parties into contractual relationship. This branch of law separates and regulates the relationships between:
• Agents and Principals,
• Agents and the third parties with whom they deal on their principals’ behalf, and
• Principals and the third parties when the agents purport to deal on their behalf (http://en.wikepedia.org)
A summary of the field of agency law is the one who acts through another, acts in his or her own interests. The application ...