Manager's Authority to Conclude Sale After Mandate Revocation
Synthèse Legislator
Généré par l'IAA contract entered into by a manager on behalf of a company, concerning the sale of property, was contested by the company's legal representative after the manager's authority was revoked, leading to a dispute over the validity of the sale agreement, which the lower court upheld, and upon review, the higher court affirmed that the manager, despite the subsequent revocation of their mandate, retained the authority to conclude the sale because the other party was unaware of the revocation at the time of the agreement, thereby protecting the good faith of the third party in the transaction.
Regeste Legislator
Généré par l'IAManager's Authority to Conclude Sale After Mandate Revocation: A contract entered into by a manager on behalf of a company, concerning the sale of property, was contested by the company's legal representative after the manager's authority was revoked, leading to a dispute over the validity of the sale agreement, which the lower court upheld, and upon review, the higher court affirmed that the manager, despite the subsequent revocation of their mandate, retained the authority to conclude the sale because the other party was unaware of the revocation at the time of the agreement, thereby protecting the good faith of the third party in the transaction.