Legal Question in Business Law in United Kingdom
Freedom from litigation
I am about to act as an agent for a trade & export company as a forwarding representative but will feel more secure if I can enter into a legal agreement vindicating me from any financial crime as an 'accomplice' in the event that their dealings with turn out to be unscrupulous or against ethics of financial transaction. please advice
2 Answers from Attorneys
Re: Freedom from litigation
I am afraid that this simply cannot be done. If through your involvement with this company you commit a criminal act, you will be fully liable under the criminal law and any indemnity from the company will be irrelevant so far as any criminal penalty imposed.
So far as civil liability is imposed it would probably make good sense to enter into an agreement whereby you can claim an indemnity from the company. However this indemnity is only as good as the company you are considering becoming involved with their and the best advice you can be given is to think very carefully before proceeding. If you decide to do so we will be pleased to advise further and assist in the preparation of a suitable agreement.
Andrew Dutton
www.legal-zone.co.uk
Re: Freedom from litigation
The Agreement in question can be worked out. But you should bear in mind that the Agency/Principal relationship is pretty straight forward.
As such any act of the Agent that fall within their term of relationship is deemed to be the act of the principal and to an extent vise versa.
In essence certain acts are deemed in Law are to be reasonably anticipated or known by the other party and situaions like this occur the party may not be estoppeled from liability
Hope the above meets your requirement
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