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5 Written Questions

5 Matching Questions

  1. Special P of A
  2. Termination by Operation of Law
  3. Termination of P of A
  4. Contractual Liability of Agent to 3rd Party - Is A personally liable to 3rd party under contract negotiated for P?
  5. Ratification
  1. a ✦ Depends
    1) Disclosed Principal
    2) Undisclosed Principal
  2. b ✦ Agent authorized to do only specified things for Principle while Principle could legally do them
    ✦ IRS Form 2848
  3. c ✦ By acts of parties
    ✦ By operation of law
  4. d 1) Incapacity?
    2) Death?

    ✦ If Durable Gen or Special = not terminated
    ✦ If Plano Gen or Special = yes, terminated
  5. e Even if Principle didn't authorize Agent to act, Principle still bound if Principle ratifies Agent's actions

5 Multiple Choice Questions

  1. 1) Actual
    2) Apparent
  2. Utmost loyalty, trust, and good faith in dealings between P and A
  3. ✦ Agent authorized to do everything Principle could legally do while Principle could legally do it
    ✦ If they aren't able to do something, then you can't act for them
  4. ✦ Person who acts for another
    ✦"employee/worker"
  5. ✦ Work expressly directed to be performed
    ✦ Work reasonably incidental to work expressly directed

5 True/False Questions

  1. Vicarious Liability or Respondeat SuperiorPrinciple is not liable because of what Principle did, but because P's Agent did something for which P is held responsible

          

  2. Disclosed Principal✦ 3rd Party doesn't know or reasonably shouldn't have known A is P's agent
    ✦ A is personally liable for broken contract

          

  3. Types of Powers of Attorney1) Actual
    2) Apparent

          

  4. Apparent Authority✦ Relationship between Agent and 3rd Parties (others)
    ✦ Horizontal Authority

    ✦Principle is contractually bound if 3rd party could reasonably believe Agent was authorized to act for Principle - even if they weren't

          

  5. Tort Liability of P for A's Actions✦ By acts of parties
    ✦ By operation of law

          

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