The person who authorizes someone to represent his or her interests
What is Principal
100
A _______ is the person that control the conduct of another
What is master
100
Define estoppel by agency
What is the principal's actions lead the third party to believe that the agent is working for the principal
100
When a person performs a task they are not authorized by the principal to do.
What is agency by ratification
100
Define Power of Attorney
What is any writing granting someone authority to act as an agent
200
Name the different parties of an Agency
What is Agent, Principal and Third Party
200
A ______is the person performing the task for the master.
What is servant
200
Can a minor be a principal or an agent in a contract?
What is a minor can be a principal or agent but there are restrictions because they do not have contractual capacity.
200
The real power a principal gives to an agent.
What is Actual Authority
200
Define Agent's Agent
What is an agent who is appointed by another agent without the principal's authority to do so
300
The person with whom the agent does business on behalf of the principal
What is Third Party
300
Name some people or jobs that might require an agent?
What is Sports agents, Realtors, any that makes contracts
300
What happen if an agent represent a principal for free
What is the agent can terminate at any time
300
Define express authority
What is comes from the orders, commands, or instructions a principal explicitly gives an agent.
300
Define special agent and provide example
What is an agent whose authority is restricted to accomplishing only a specific job or purpose; limited agent
ex. cashier
400
Define Agent
What is the person who has been authorized to do the work
400
Define independent contractor
What is a person who works for a proprietor to perform a particular task using his or her own tools and deciding the best way to do the job
400
Name an agent that must pass an examination and be licensed in their state before they can serve as agent
What is Lawyers, stock brokers, insurance agents, auctioneers, and real estate
400
Define implied authority
What is Additional authority that allows an agent to perform reasonable acts necessary to carry out the express authority
400
Are agency agreements made in the United States valid in other countries?
What is agency law differs in other countries, when doing business in other countries consult with a local attorney.
500
How are agency relationships formed?
What is agency relationships are usually formed when a principal and a agent agree to the arrangement
500
Provide an example of and independent contractor
What is Plumbers, gardens, electricians, accountants, lawyers, designers, architects, and personal trainers
500
Define the Equal Dignity Rule
What is if contracts made by the agent to third parties must be in writing, then the contract that creates the agency relationship must also be in writing.
500
Name the different types of power of attorney
What is general power, limited power, durable power
500
What is the difference between durable power of attorney and limited power of attorney
What is A limited power of attorney gives the agent authority to deal only with the task named in the agreement
A durable power of attorney gives the agent the power to make the health care decisions when the principal becomes incapacitated.