AGENCY PARTNERSHIP
Terms
undefined, object
copy deck
- Master Servant
- employee is subject to masters control but can't bind him in contract with third party
- Master
- can be liable for employees torts.
- RESPONDEAT SUPERIOR
-
LET THE MASTER ANSWER
employer is responsible for the torts of his employees - INDEPENDENT CONTRACTOR
- right of control means accomplishment rests with the person employed. Employer not liable for torts of independent contractor.
- CAPACITY
- to be principal ok if he could have entered into contract firectly
- POWER OF ATTORNEY
- Non-DURABLE if you are incapcitated the POA can be broken not affected by the incapcity of the principal is effected by the capacity of teh principals
- INFANCY
- under 18 void
- INCOMPENTENCY
-
unable to understand your acts
voidable - INTOXICATION
- If someone is drunk the contract can be void.voidable
- GENERAL
- agents have broad authorty you apppoint someone your genereal agent they can do anything you can do (except vote, or write your will)
- SPECIAL AGENT
- limited to a particular task (attorney, real estate agent)
- SPECIFIC PERFORMANCE
- NEVER APPLIES TO SERVICE CONTRACTS (you can sue for damages but not for specific performance)
- APPARENT AUTHORITY
- authority which the principal holds his agent out as having and allows agent to "look like" he has it. it is created incidental authority by neccessity implied or actual
- OSTENSIBLE AUTHORITY
- same as apparent if the agents does something he is not allowed to by principal the principal can deny it however if a 3rd party isinvolved teh principal can be held liable
- ESTOPPEL
-
a presentatoin by 1 partner
b) reliance on statement
c) reasonableness of reliance
d) detriment or harm suffered - TERMINATION OF AGENCY
- expiration or performance of the agency there is always the problem of lingering apparent authority
- OPERATION OF LAW
- death either death of principal or agent, insanity, bankruptcy
- TERMINATION
- upon termination you must give notice to end "lingering apparent authority"
- NOTICE
- actual or contructive notice
- CREATION OF PARTNERSHIP
-
by contract either implied or express or estoppel
express written or oral
implied by actions
estoppel you can't deny you are partners based on how you acted - KINDS OF PARTNER
-
silent-known to public no say in mangement
secret-not known to public -has a say in mangement
both are general partners in liablity - THREE ELEMENTS OF PARTNERSHIP
-
carrying on a business for profit
co-ownership of goodwill (reputation)
sharing of profits - A PARTNER MAY NOT
-
confess a judgement
submit to arbitration - PARTNERSHIP
- assn of 2 or more people who act as agents for each other to carry out a business for profit and who agree to share profits and losses general or limited
- EXPRESS AUTHORITY
- the authority given by oral or written language explicity by oral language
- IMPLIED AUTHORITY
- cicumstantially proved which the principal intended the agent to have
- RATIFICATION
- adoption of the acts of the agent that were previously unauthorized when the principal ratiPfies it relates back to the time of the original act of the agent
- PARTNERSHIP by ESTOPPEL
-
based on the appearance of a grant of authority based on how you act.
a) representation by one that he/she is a partner
b) reliance on the statement
c) reasonable