MGMT 644 Lecture Notes - Implied Warranty, Intentional Tort, False Imprisonment
Document Summary
Chapter 29: the use of agents allows one person to act on behalf of another. Agency relationships include salespersons selling goods, a partner acting on behalf of a partnership, an attorney representing a client. Agency laws are made to protect people from agents. Restatement (second) agency consent by one person to act on behalf and under control of another and agreement by other to have that person so act. Principal a party who employs another person to act on his or her behalf. Agent - a party who agrees to act on behalf of another. A principal agent relationship is formed when an employer hires an employee & gives that employee authority to act & enter into contracts on his/her behalf. The extent of this authority is governed by any express agreement between the parties & implied from the circumstances of the agency. This relationship exists when an employer hires an employee to perform some form of physical service.
