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5 Written questions

5 Matching questions

  1. Can Agent Contractually Obligate Principle?
  2. Vicarious Liability or Respondeat Superior
  3. Termination of P of A
  4. 5 Things to Know about Agency Law
  5. Termination by Acts of Parties
  1. a 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?
  2. b Yes! If A had the authority to enter into the contract
  3. c ✦ By acts of parties
    ✦ By operation of law
  4. d 1) Completion
    2) Revocations
    3) Quit
    4) Time
  5. e Principle is not liable because of what Principle did, but because P's Agent did something for which P is held responsible

5 Multiple choice questions

  1. = Notice to P
    ✦ If A's receipt of notice is within A's actual or apparent authority
  2. ✦ Agent authorized to do only specified things for Principle while Principle could legally do them
    ✦ IRS Form 2848
  3. ✦ 3rd Party doesn't know or reasonably shouldn't have known A is P's agent
    ✦ A is personally liable for broken contract
  4. ✦ Fiduciary Duty
    1) Obedience - if legal
    2) Reasonable care
    3) Loyalty
    4) Duty to account for $
    5) Duty to notify regarding changed customers
  5. ✦ If Employer-Employee = GENERAL RULE
    ✦ If Independent Contractor = then "boss" is not liable for independent contractor's actions

5 True/False questions

  1. RatificationEven if Principle didn't authorize Agent to act, Principle still bound if Principle ratifies Agent's actions


  2. General P of A✦ 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


  3. GENERAL RULEEmployer (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


  4. Contractual Liability of Agent to 3rd Party - Is A personally liable to 3rd party under contract negotiated for P?✦ Tort - Injury to person or damage to another's property which is compensable by money damages if the defendant was wrong


  5. What is Scope of Employment?1) Actual
    2) Apparent


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