SMGT 3861 Lecture 5: Agency Law

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6 Mar 2019
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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
liable
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
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
agents
o Prohibits agents from making false or misleading promises or providing
gifts, cash to student-athletes and those associated with student-
athletes
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
o Ex. NFLPA
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