LAW 18B Chapter Notes - Chapter Ch. 33 Agency Liability & Termination: Notary Public, Apparent Authority, Transact
7 Feb 2019
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An agent"s authority can either be actual (express or implied) or apparent (what the principal causes the third party to believe). Express authority: the authority declared in clear, direct, and definite terms; can be given orally or in writing. Equal dignity rule: if the contract being executed is or must be in writing, then the agent"s authority must also be in writing or the contract is voidable. Failure to comply with the equal dignity rule can make a contract voidable at the option of the principal. Power of attorney: confers express authority via a written document that is usually notarized. Notary public: a person authorized to attest to the authenticity of signatures--signs, dates & imprints the document with his/her seal of authority. A power of attorney can be special (permitting the agent to perform specified acts only), or it can be general (permitting the agent to transact all business for the principal).
