SMGT 3861 Lecture 5: Agency Law

17 views1 pages
6 Mar 2019
Liability: Contracts
Contract: key is whether agent is within authority
o Disclosed principal: principal is liable, agent is NOT
o Partially disclosed principal: principal is liable, in most state, agent is also
o Undisclosed principal: BOTH principal and agent are liable
Regulation of Athlete Agents
State laws and the Uniform Athlete Agents Act (UAAA)
o Many states had their own statutes requiring registration and licensing
UAAA's requirements to student-athletes principal:
o May lose eligibility
o Notify the athletic director within 72 hours after entering the contract
o May cancel this contract within 14 days after signing it
o Cancellation of this contract may not reinstate eligibility
UAA's requirement to agents:
o Disclose important information
o Cannot make false promise or provide misleading information
o Register with states and pay credential fee
Regulation of Athlete Agents: Federal Law
SPARTA (Sports Agent Responsibility and Trust Act)
o Protect student-athletes and universities from unscrupulous sport
o Prohibits agents from making false or misleading promises or providing
gifts, cash to student-athletes and those associated with student-
o Similar to the UAAA, SPARTA requires written disclosures to inform
students they could lose their eligibility
o Notify within 72 hours. Violators can be fined $11,000 per day
o Civil action against violators
o No registration required
Professional League Unions
Each of the major league players' associations requires agents to register
with the appropriate union
Standards vary, but NFLPAs is the most stringent: annual classes, passing
exam, upholding code of conduct
Unlock document

This preview shows half of the first page of the document.
Unlock all 1 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.