II. Legal Principles 法律原則

A contract is an agreement between two or more parties that the law will enforce. It needs offer and acceptance, consideration, intention to create legal relations, capacity, legality and genuine consent. Under privity of contract, normally only the parties can sue or be sued on it, but agency, assignment and statute (such as the Contracts (Rights of Third Parties) Ordinance) provide exceptions.

Definition · Types of Contracts · Elements or Essentials of a Contract · Privity of Contract

Agency is a relationship in which a principal authorises an agent to create legal relations with third parties on the principal's behalf. It can arise by agreement, by ratification or by necessity, and an agent acting within express, implied or apparent authority binds the principal. Each side owes duties to the other, and the relationship can end through the parties' own acts or by operation of law.

Definition · How Agency Arises · Authority of Agents · Duties Owed by Agent to Principal · Duties Owed by Principal to Agent · Termination of Agency