How to Ace FYLSE/Agency and Partnership Essay Attack Plan
Is Agent Liable?[edit | edit source]
A. Actual Express Authority: Express authority is the authority contained within the four corners of die agency agreement and those expressly granted by the principle.
B. Actual Implied Authority: Implied authority is authority that 化e agent reasonably belie\es he has as a result of the principals actions
C. Termination of Actual Authority: Termination of actual authority occurs by either parties unilateral termination
D. Apparent Authority: Apparent authority arises from reasonable belief of third parties. It exists if化e principal holds the agent out as possessing certain authority, thereby inducing reasonable reliance by others on that authority.
E. Lingering Authority: When agent's actual authority is terminated, he will have apparent authority to act on principal's behalf as to third parties until they receive actual or constructive notice of termination
F. Ratification: A relationship is created by ratification when an agent puqiorts to act on behalf of the principal without authority, the principal subsequently validates the act and becomes bound.
G. Vicarious Liability: 1) was agent an employee? 2) Did tort occur during scope of employment?
H. Independent Contractor: Agent not liable for independent K., unless they were engaged in IS a nuisance.