Agency Law-

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Agency Law-
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What is a Principal ?

• A party who delegates authority to another party

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What is an Agent?

• A party who agrees to act on behalf of another
  party

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Duties of Principal to Agent

• Compensation
• Indemnification
• Cooperation
• Safety

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Duties of Agent to Principal

• Loyalty
• Obedience
• Due Care
• Notification
• Accounting

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Creation of the principal/agent relationship

• The key is the delegation of authority
• express
• incidental
• implied
• apparent
• emergency
• estoppel
• ratification

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Termination of the principal/agent relationship

• By agreement
• By events
• By operation of law
• regardless of how the relationship is terminated,
  NOTICE IS KEY

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Liability for Contracts

• Issues
• what authority does the agent have?
• What type of principal do we have?
• Disclosed
• Partially Disclosed
• Undisclosed

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Liability for Torts

• Is the agent an independent contractor or an
  employee?
• Control is Key
• If the agent is an employee, was he acting within
  the scope of his authority?
• Instructions
• Detour/ Frolic
• Intentional Torts/ Crimes