GMGT 2060 Lecture Notes - Lecture 46: Reasonable Person, Estoppel

• School: University of Manitoba
• Department: General Management
• Course: GMGT 2060
• Professor: Alok Dua

Document Summary

1246: agency by estoppel: when a person allows another to believe a certain state of affairs exists with the results that others rely on that belief. The person will afterwards be prevented from stating the true state of affairs was different. (precluded from denying) use. Reasonable person standard to determine agency by estoppel. Apparent authority: agent has no real actual authority exists but acquiescing agent gives impression that he is an agent. Agent must place interest of principle above all else.