Law Midterm Agency
Terms
undefined, object
copy deck
- Tort
- Neglagence, neglagent act (civil law)
- Agency
- relationship where one part (the agent) acts on behalf of another (the principal)
- Enployee vs. Independent Contractor (Differences)
-
1. Taxes (withholding for employee only)
2. Benifits for employee only(includes firing)
3. Ownership and I.P. (for employee, rights automatically go to employer, not same for indep. contractor - Estoppel
- to prevent; theory under which a person is barred from asserting or denying a fact because of the person's previous acts or words; appearance of 3rd party that you are an agent of a particular agency
- 3 Types of Authority
-
1. Actual Express (Oral or written)
2. Actual Implied (authority resonaly thinks he/she has)
3. Apparent Authority (like an estoppel; prinicial gives appearance that a person is an agent to a 3rd party - Indemnification
- part of a contract that provides for one party to bear the monetary costs for losses incurred by the 2nd party
- Duties of Agent to Principal
- Duty of Loyalty; Duty of Care; Duty to Notify
- Duties of Principal to Agent
- Compensation; Indemnification
- Contract Issues (Fully Disclosed)
- 3rd party knew agent represented the principal and knew the identity of the principal = Principal is liable, Agent is not
- Contract Issues (Undisclosed)
- 3rd party knew neither of existence of agency nor the prinicipal = Agent is liable, principal is not
- Tort Issues (Rule)
- Whether an employer is liable to a third party for negligence of the employee depends on whether the negigence occurred in the scope of employment
- Detour (Tort Issues)
- Employee stops along the way of normal work to do a personal "errand" = employER is liable
- Frolic (Tort Issues)
- Employee does something completely for his or herself on company time = employEE is liable
- Business Trip - Who is liable?
- EmployER b/c you are the face of the company