CHEM 142 Study Guide - Final Guide: Civil Rights Act Of 1964, Reasonable Accommodation, W. M. Keck Observatory
Document Summary
Agency = principal and agent. business relationship where a principal gives legal authority to an agent to act on the principal"s behalf when dealing with a third party. Agency is a fiduciary relationship based on trust and confidence. Agreement- formed through express consent or implied by conduct. Ratification-the principal either by act or by agreement ratifies the conduct of a person who is not in fact an agent. Estoppel- when a principal causes a third person that another person is his or her agent, and the third person deals with the supposed agent. Act of the parties-lapse of time, purpose achieved. Performance- implied condition to use reasonable diligence and skill. Notification - inform principal of all matters concerning matters of the agency. Loyalty-act solely for benefit of the principal. Obedience-follow all the lawful clearly stated instructions. Accounting- keep and make available all property and funds received and paid out in behalf of principal.
