Chapter 25 Agency Law

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Chapter 25 Agency Law Flashcards


 
  
Created Nov 21, 2011
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wellygurl14

 

 
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1
Agency Law
 
The large body of common law that governs agency; a mixture of contract law and tort laws. 
2
Principal
 
A party who employs another person to act on his or her behalf.
3
Agent
 
A party who agrees to act on behalf of another. 
4
Agency
 
The principal-agent relationship; the fiduciary relationship " which results from the manifestation...
5
Principal-agent relationship
 
a relationship formed when an employer hires an employee and gives that employee authority...
6
Employer-employee relationship
 
a relationship that results when an employer hires an employee to perform some task or service...
7
Principal-independent contractor relationship 
 
the relationship between a principal and an independent contractor who is not an employee of...
8
Independent contractor
 
principals often employ outsiders- persons and businesses that are not employees-to perform...
9
Professional agent
 
an independent contractor who is a professional (such as a lawyer)
10
Express agency
 
an agency that occurs when a principal and an agent expressly agree to enter into an agency...
11
Exclusive agency contract
 
a contract a principal and agent enter into that says the principal cannot employ...
12
Power of attorney
 
an express agency agreement that is often used to give an agent the power to sign legal documents...
13
general power of attorney
 
a power of attorney where a principal confers broad powers on the agent to act in any matters...
14
special power of attorney
 
a power of attorney where a principal confers powers on an agent to act in specified matters...
15
Implied agency
 
an agency that occurs when a principal and an agent do not expressly create an agency, but...
16
Agency by ratification 
 
an agency that occurs when (1)a person misrepresents himself or herself as another's agent...
17
Apparent agency (agency by estoppel)
 
agency that arises when a principal creates the appearance of an agency that in actually...
18
Duty to compensate
 
a duty that a principal owes to pay an agreed-upon amount to the agent either upon the completion...
19
Duty to reimburse
 
unless otherwise agreed, the principal owes a duty to reimburse the agent for expenses incurred...
20
Duty to indemnify 
 
a principal owes a duty to indemnify the agent for any losses the agent suffers because...
21
Duty to cooperate
 
unless otherwise agreed, the principal owes a duty to cooperate with and assist the agent in...
22
Duty to perform
 
an agent's duty to a principal that includes (1) performing the lawful duties expressed in...
23
Duty to notify
 
an agent owes a duty to notify the principal of important information concerning the agency. 
24
Imputed knowledge
 
information that is learned by an agent that is attributed to the principal.
25
Duty to account (duty of accountability) 
 
a duty that an agent owes to maintain an accurate accounting of all transactions undertaken...
26
Duty of loyalty
 
a fiduciary duty owed by an agent not to act adversely to the interests of the principal.
27
Tortious conduct
 
a principal and an agent are each personally liable for this each. The principal is...
28
Tort liability 
 
for principals and agents are negligence, intentional torts, and misrepresentation. 
29
Respondeat superior 
 
a rule that says an employer is liable for the tortious conduct of its employees or agents...
30
Vicarious liability 
 
liability without fault. occurs where a principal is liable for an agent's tortious conduct...
31
Doctrine of negligence 
 
rests on the principal that if someone (i.e the principal) expects to derive certain...
32
Frolic and detour
 
a situation in which an agent does something during the course of his or her employment to...
33
Coming and going rule 
 
a rule that says a principal is generally not liable for injuries caused by its agents and...
34
Dual - purpose mission 
 
an errand or another act that a principal requests of an agent while the agent is on his or...
35
Intentional torts
 
include such acts as assault, battery, false imprisonment, and other intentional conduct that...
36
Motivation test 
 
a test that determines whether an agent's motivation in committing an intentional tort is to...
37
Work-related test
 
a test that determines whether an agent committed an intentional tort within a work-related...
38
Intentional misrepresentation
 
a deceit in which an agent makes a statement that he or she knows is not true.  (fraud...
39
Contract liability 
 
agency law imposes this on principals and agents, depending on the circumstances. 
40
Fully disclosed principal
 
an agency in which a contracting third party knows (1) that the agent is acting for a principal...
41
Partially disclosed agency 
 
an agency in which a contracting third party knows that the agent is acting for a principal...
42
Undisclosed agency 
 
an agency in which a contracting third party does not know of either the existence of the agency...
43
Implied warranty of authority 
 
a warranty of an agent who enters into a contract on behalf of another party that he or she...
44
Ratification of a contract
 
a situation in which a principal accepts an agents unauthorized contract. A principal is bound...
45
Independent contractors 
 
"a person who contracts with another to do something for him who is not controlled by...
46
Degree of control 
 
the crucial factor in determining whether someone is an independent contractor or an employee...
47
Inherently dangerous activities
 
principals cannot avoid liability over these that they assign to independent contracts (i.e...
48
Terminated by an act of the parties
 
an agency can be terminated (1) by the mutual assent of the parties, (2) if a stated time has...
49
Wrongful termination 
 
the termination of an agency contract in violation of the terms of the agency contract. The...

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