LAW 633 Lecture Notes - Lecture 3: Fiduciary, Jean-Antoine Watteau, Estoppel
31 May 2020
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Agency: agency is the foundation of all business relationships, r3d (agency), 1. 01. It does not matter if parties characterize themselves as principal agent or not. Satisfying the elements of agency creates it: gorton v. dorty. The owner can get insurance or contract around losses: only need to direct the ultimate objective, cargill. Agency can be proved by course of dealing and circumstantial evidence. Corporate grain dealer was the principal of a struggling grain storage facility because of de facto control over the agent"s internal affairs. Totality of the circumstances considered to established control: agent/principal consented by supplying/procuring grain, control, principal needed agent because agent was the monopoly in. E. g. , cannot give interim instructions to bus driver, so bus driver is not agent of person taking the bus. Agency authority & principal liability: questions: (1) is there agency? (2) was there any authority to bind the principal, r3d (agency), 2. 01.
