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Unit 8 Agency
Terms in this set (45)
A relationship in which one person acts for or on behalf of another person at the other person's request.
Agency by estoppel
An agency created by appearances that lead people to believe that the agency exists. It occurs when the principal, though negligence, permits her agent to exercise powers she never gave him, even though she has no knowledge of his conduct.
Agency by ratification
A relationship in which one misrepresents one's self as an agent to a principal, when in fact one is not, while the principal accepts the unauthorized act.
Agency coupled with an interest
see power coupled with an interest
Agency in fact
An agency created by the agreement of the principal and the agent, as distinguished from an agency created by operation of law.
The relationship that exists in law between a principal and an urgent.
One of the parties to an agency relationship, specifically, the one who acts for and represents the other party, who is known as the principal. The word implies service as well as authority to do something in the name of or on behalf of the principal (EXAMPLE: a person who represents a business person in contract negotiations). Although one can be both an employee and an agent, the usual distinction between the two is that the manner in which an employee does his work is controlled and directed by his employer; in contrast, an agent is free to use independent skill and judgement, his principal's concern being the results he produces, not how he does his work.
One who is, in law, an agent because she has obvious authority. EXAMPLE: a nurse in uniform working at a doctor's office, who greets patients in the waiting room.
Authority that an agent is permitted to exercise, although not actually granted by the principal.
An agent who buys or sells on commission; a fee or payment calculates on a percentage basis.
The person to whom a carrier is to deliver a shipment of goods; the person named in a bill of lading to whom the bill promisee delivery; the person to whom goods are given on consignment, either for sale or safekeeping.
The entrusting of goods either to a carrier for delivery to a consignee or to a consignee who is to sell the goods for the consignor.
A consignment of goods to another (the consignee) with the understanding either that she will sell them for the consignor and forward the proceeds, or, if she does not, that she will return them to the consignor. A consignment is also known as a bailment for sale.
A person who sends goods to another on consignment; the person name in a bill of landing as the person from whom goods have been received for shipment.
Del credere agent
(Italian) An agent who guarantees his principal against the default of those with whom he contracts.
The rule that if an agent has digressed only slightly from the instructions of the principal, the principal is not excused from liability for the agent's negligence.
A person who works for another pay in a relationship that allows the other person to control the work and direct the manner in which it is done. The earlier legal term for employee was servant. compare independent contractor. Also compare agent. Note that statutory definitions of "employee" may differ, depending upon the purpose of the statute. EXAMPLE: although the distinctions between the definitions of employee in the social security Act, the fair labor standards act, and the national labor relations act may seem insignificant, they may, in any given instance, be critical.
A person who hires another to work for her for pay in a relationship that allows her to control the work and direct the manner in which it is done. The earlier legal term for employer was master.
A prohibition imposed by law against uttering what may actually be the truth. A person may be estopped by his own acts or representations (that is, not be permitted to deny the truth or significance of what he said or did) if another person who was entitled to rely upon those statements or acts did so to her detriment. This type of estoppel is also known as equitable estoppel or estoppel or estoppel in pais.
A person employed to receive goods from a principal and to sell them for compensation, usually in the form of a commission reffered to as factorage. A factor is a bailee (person to whom property is entrusted) who is sometimes called a consignee or commission merchant (e.g., sale of right to collect accounts in exchange for a commission).
A person who is entrusted with handling the money or property of another person. EXAMPLE: attorney and client; guardian and ward; trustee and beneficiary.
Duty to act loyally and honestly with respect to interests of another; the duty the law imposes upon a fiduciary.
Frolic and detour
The negligence conduct of an employee or agent who has departed from doing the employer's or principal's business to do something unrelated to work, for which the employer/principal is not liable.
An agent authorized to perform all acts connectee with the business of his principal.
An actual agency, the existence of which is proven by deductions or inferences from the facts and circumstances of the situation, including the words and conduct of the parties.
The authority of an agent to do whatever acts as necessary to carry out her express authority. EXAMPLE: An attorney retained to commence a legal action has the implied authority to file such pleadings as she feels are appropriate.
1. That which is attributed to a person, not because he personally performed the act (or personally had knowledge or notice), but because of his relationship to another person for whose acts, omissions, knowledge, or notice he is legally responsible.
1. An agent's knowledge that is binding upon his principal because of their agency relationship.
2. Knowledge of facts charged to a person because anyone of ordinary common sense would know them.
3. That which a person has a duty to know and the means of knowing.
The negligence of one person that, by reason of her relationship to another person, is chargeable to the other person. EXAMPLE: An employer is liable for the negligence of his employee that occurs within the scope of employment.
As distinguished from an employee, a person who contracts to do work for another person in her own way, controlling the means and method by which the work is done but not the end product. An independent contractor is the agent of the person with whom she contracts.
A person to whom a corporation has given general powers involving the exercise of judgement and discretion in conducting the corporation's business.
1. An outdated term for employer.
employer; master; servant
2. A person who has control or authority over others.
Power coupled with an interest
1. A power of appointment that includes an interest in the thing itself.
2. A power that gives an agent an interest in the subject of the agency.
EXAMPLE: the power and interest of a partner in a business who is given the right to manage the business as security for loans he has made to the partnership.
Power of attorney
A written instrument by which a person appoints another as his agent or attorney in fact and confers upon her the authority to perform certain acts. A power of attorney may be "full" (a general power of attorney) or "limited" (a special power of attorney). The power to sell property without specifying which property, or to whom, is an EXAMPLE of general power of attorney; the power to sell a particular piece of property to a particular person is an EXAMPLE of a special power of attorney.
In an agency relationship, the person for whom the agent acts and from whom the agent receives her authority to act.
"Let the master respond". The doctrine under which liability is imposed upon an employer for the acts of its employees committed in the course and scope of their employment. Similarly, respondent superior makes a principal liable for a tort committed by her agent, and a master responsible for the negligence of his servant.
An outdated term for employee
An agent authorized to perform a particular or specific act connected with the business of her principal.
A person who is not a party to an agreement, instrument, or transaction, but who may have an interest in the transaction.
The intended beneficiary of a contraxt made between two other persons. May sue to enforce such a contract (e.g.; the child of a couple who signed a separation agreement guaranteeing college tuition for the child.
As the term is used in the law, either a person who has an interest in a transaction or a person who has an interest in an action.
A situation in which a person who is in fact an agent for another deals with a third person as if he were the principal, the fact that he is an agent being unknown or hidden.
The unrelevant principal in a situation involving an undisclosed agency.
An agent who is authorized to do everything her principal is entitled to delegate.
Liability imposed upon a person because of the act or omission of another.
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