MGMT 209 Lecture Notes - Lecture 11: List Of The Belgariad And The Malloreon Characters, Independent Contractor, List Of From Eroica With Love Characters
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A. 1) agent someone who agrees to act on behalf of another (the principle) Principal - someone represented by another (an agent) Fiduciary someone who has a special duty to act in the benefit of another. Fiduciary relationship a relationship based on confidence and trust. Example: a client-lawyer relationship (a. 5. a) client is the principal (a. 5. b) lawyer is the agent (a. 5. c) their relationship is fiduciary because the client trusts the lawyer to look out for: employer employee relationships their best interest. Employees that interact with 3rd parties are agents for whoever they work for. The employer is responsible for those agents because they control them (b. 2. a) note that control is a big deal when determining responsibility: employer independent contractor relationships. Independent contractors may or may not be agents but employers are not responsible for them because they don"t have control. C. 2) on top of that, there"s no tax to pay to them.
