Show:
Just Terms
Creation/Operation of Agencies
Agency Duties
More Agency duties
In One Word
100
Express Authority
What is communicated directly by the principal to the agent
100
Writing that appoints someone as an agent
What is power of attorney.
100
Mixing the funds or property of the principal and the agent
What is commingling
100
When the principal is unknown
What is undisclosed principal
100
is an agent lies about the specifics of the expectations sof the principal, is he or she liable
What is yes?
200
Agency
What is the relationship between two parties
200
The power to do anything reasonably necessary or customary to carry out the duties expressly authorized
What is implied authority
200
Duty of Loyalty
What is the agent may not secretly benefit form the agency transaction.
200
The main duty of the principal.
What is to pay for agency services?
200
Can a minor hire an agent to represent them?
What is yes.
300
A relationship where the agent receives no consideration and there is no contract
What is gratuitous agency
300
The approval of a previously unauthorized act
What is ratification
300
Are principals bound by their agreements with third parties?
What is yes.
300
The agent must follow the instructions of the principal
What is duty of obedience
300
The duty of confidentiality lasts even after the agency relationship is terminated
What is true
400
When an agent leads the third party to reasonably believe that a particular person has agency authority
What is apparent authority
400
The range of acts authorized by the principal
What is the scope of authority
400
Exceeding the scope of authority, principal's lack of capacity, liability due to an unclosed principal
What is duties owed to third parties?
400
Require the agent to put the best interests of the prinicpal ahead of his or her own
What are fiduciary duties
400
Every employee who is authorized to bind the employer to a contract is an agent
What is true
500
the agent promised the third party that the principal had capacity
What is warranty of the principal's capacity
500
Starts the creation of a an agency relationship
Who is the principal
500
Loyalty and Obedience, Reasonable Care and Skill, Confidentiality, Accounting
What are the four duties owed to the principal in an agency relationship?
500
How is an agency terminated?
What is unilateral action, agreement, or operation of law
500
Apparent authority arises out of the principal's conduct toward the agent
What is false