BLAW 3201 Study Guide - Summary Judgment, Fiduciary, Security Interest
Document Summary
Definition of agency- relationships authorizing one party (the agent) to act for and on behalf of the other party (the principal). Scope of agency purposes- generally, whatever business activity a person may accomplish personally and legally he may do through an agent. An agent may not delegate others to complete his work and claim responsibility. Employment relationships- one in which the employer has the right to control the physical conduct of the employee. Independence contractor- a person who contacts with another to do a particular job and who is not subject to control of the other. Formalities- through agency is a consensual relationship that may be formed by contract or agreement b/w the principal and agent, agency may exist without consideration. Requirements- no particular formality is usually required in a contract of agency, although appointments of agents for a period of more than one year must writing. be in. Power of authority- written, formal appointment of an agent.
