10-5B-8 (2019)
When offer to sell or buy is made in state
For purposes of this chapter, an offer to sell or to buy is made in this state, whether or not either party is then present in this state, when the offer:
(1) Originates from this state; or
(2) Is directed by the offeror to this state and received at the place to which it is directed.
History
Code 1981, § 10-5B-8, enacted by Ga. L. 1994, p. 536, § 1.
CHAPTER 6 AGENCY Article 1 Creation and Nature of Relationship Sec.
Creation of agency relationship. Formality necessary to create agency. Eligibility standard for agent. Conveyance authority of attorneys in fact. Agent authority; delegation. Conditional power of attorney. Application. Article 2
Effect of death on power of attorney by member of armed forces, seaman, or person on war service. Effect of incompetency or incapacity of principal on power of attorney. Action for wrongful discharge of agent before termination of contract. Mitigation of damages for improper dismissal. Liability of principal for injuries by other agents. Article 3
Rights and Liabilities of Principal to Third Persons
Relations Between Principal and Agent
Sec.
Rights under agency for illegal purpose. Extent of agent’s authority; liability for exceeding, violating, or disregarding instructions. Required standard of care. Instructions from multiple principals. Sale or purchase to self prohibited. Personal profit off principal’s property prohibited. Dispute of principal’s title. Principal’s right of recovery. Effect of bank failure. Mingling goods. Proper accounting required. Commission and expenses. Owner’s right to sell property placed with broker; broker’s right to commissions. Method for revocation of agency; damages for unreasonable revocation. Effect of death or disability on pledge of stock with power of attorney.
Scope of authority; general and special agents. Effect of acts within and outside scope of authority. Ratification. Form of act. Effect of undisclosed principal. Effect of seller giving credit to agent. Effect of representations or concealment on principal. Nonproduction of payment made or security by agent. Effect of notice to agent. Conspiracy with third parties. Effect of neglect or fraud by agent. Effect of willful trespass by agent. Rights under contract; undisclosed principal. Recovery of illegal or mistaken payments. [Reserved] Agent may be witness; credibility; admissibility of agent’s declarations.
COMMERCE AND TRADE Article 4
Article 5
Rights and Liabilities of Agent as to Third Persons
Agents Receiving Moneys for Third Persons
Sec.
Sec.
Agent authority in legal actions; parol authority; effect of repudiation. Recovery for mistaken payment to principal. Agent’s right of action on principal’s contracts. Right of action by agent for interference with possession of principal’s property. Enforcement of contract after authority exceeded. Liability for exceeding authority. Liability of person signing instrument as agent or fiduciary. Assignment of credit. Liability on public contract. Contract for nonexisting principal void; right of action against purported agent.
Annotations
Cross references. Registered agents of corporations, § 14-2-501 et seq. Rights, duties, and liabilities arising out of partnership status, § 14-8-40 et seq. Equitable principles relating to powers
Bond to be posted by agent in business of receiving cash for payment to third persons; exceptions. Right to restitution from bond; agent’s civil liability or criminal responsibility to patron not affected. Penalties for failure to post bond. Article 6 Overseers
Overseer’s duties and powers. Parol contract between employer and overseer. Article 7
Financial Power of Attorney 10-6-140 through 10-6-142. [Reserved].
of appointment, sale, and other powers, § 23-2-110 et seq. Law reviews. For annual survey of cases concerning business associations, see 39 Mercer L. Rev. 53 (1987).
RESEARCH REFERENCES Am. Jur. Proof of Facts. Fiduciary’s Breach of Investment Duties, 1 POF2d 467. Existence of Joint Venture, 12 POF2d 295. Expansion of Agent’s Authority by Necessity, 14 POF2d 483. Principal’s Repudiation of Agent’s Unauthorized Act, 37 POF2d 739. Vicarious Liability Under Doctrine of Ostensible or Apparent Agency, 6 POF3d 457. Real Estate Broker’s Misrepresentation
or Nondisclosure as to Condition or Value of Realty, 39 POF3d 309. Real Estate Seller’s Claims for Relief for Fraudulent-Concealment of Identity of True Purchaser of Realty, 63 POF3d 257. ALR. Validity and application of regulation prohibiting licensed real-estate broker from negotiating sale or lease with owner known to have exclusive listing agreement with another broker, 17 A.L.R.4th 763. Real-estate broker’s rights and liabili-
ties as affected by failure to disclose agreement to loan purchase money to purchaser, 17 A.L.R.4th 788.
ARTICLE 1 CREATION AND NATURE OF RELATIONSHIP Cross references. Confidential nature of relationship between principal and agent, § 23-2-58.