Agency
What are the basic elements of agency?
Mutual Assent, Principal Controls Agent and Agent acts on behalf of the Principal
What are the obligations between the principals and agents?
P's obligations to A: duty to indemnify. Duty of fairness and good faith in dealings.
A's obligations to P: fiduciary duties of care and loyalty. Info duties. Duty to act within scope of actual authority and duty to obey. Confidentiality.
Actual authority, apparent authority, undisclosed principal, ratification and estoppel.
Is an undisclosed Principal still liable when an agent is acting outside the scope of their duties?
Yes.
Who is liable to the third party in an undisclosed agency relationship?
Who is liable in a fully disclosed agency relationship where the agent acts within the scope of their authority?
Both the principal and the agent.