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5 Written questions

5 Matching questions

  1. 2 Types of Authority
  2. Principle (P)
  3. 5 Things to Know about Agency Law
  4. Revenue Ruling 87-41
  5. GENERAL RULE
  1. a ✦ Person who has somebody else work (act) for him/her
    ✦"employer/boss"
  2. b Employer (P) IS LIABLE for a tort committed by his or her Employee (A) if the tort was WITHIN THE SCOPE OF THE EMPLOYEE"S EMPLOYMENT
  3. c ✦ When is "boss" responsible for paying employment taxes on workers
    ✦ 20 Factor Test - but not 1 factor is determinate
  4. d 1) How is principal-agency relationship created?
    2) What is power of attorney? What are the types?
    3) What contractual liability can agent create for his principle?
    4) What tort liability can agent create for his principle?
    5) What is an independent contractor?
  5. e 1) Actual
    2) Apparent

5 Multiple choice questions

  1. ✦ Agent can continue to act for Principle even when Principle couldn't legally act for himself/herself
    ✦✦ State of Texas ✦✦
  2. ✦ Texas - GENERAL RULE - person is not within scope of employment while commuting to and from work
  3. ✦ Relationship between Principle and Agent. Agent acts under Principle's authority.
    ✦ Vertical Authority

    1) Express - clear, unequivocal authorization
    2) Implied - everything reasonably and customarily necessary
  4. ✦ 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
  5. ✦ Fiduciary Duty
    1) Obedience - if legal
    2) Reasonable care
    3) Loyalty
    4) Duty to account for $
    5) Duty to notify regarding changed customers

5 True/False questions

  1. 20 Factor Test1) Instructions, 2) Training, 3) Integration, 4) Services Rendered Personally, 5) Hiring, Supervising, & Paying, 6) Continuing Relationship, 7) Set Hours of Work, 8) Full-Time Required, 9) Doing Work on Employer's Premises, 10) Order or Sequence Set, 11) Oral or Written Reports, 12) Payment by Hour, Week, or Month, 13) Payment of Business and/or Traveling Expenses, 14) Furnishing Tools and Materials, 15) Significant Investment, 16) Realization of Profit or Loss, 17) Working for More Than One Firm at a Time, 18) Making Service Available to General Public, 19) Right to Discharge, 20) Right to Terminate

          

  2. Fiduciary DutyUtmost loyalty, trust, and good faith in dealings between P and A

          

  3. Can Agent Contractually Obligate Principle?Yes! If A had the authority to enter into the contract

          

  4. Notice to A == Notice to P
    ✦ If A's receipt of notice is within A's actual or apparent authority

          

  5. Duties of Principle to Agent✦ Fiduciary Duty
    ✦ Follow the Rules - MLB - drug testing & replay

          

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