Management and Organizational Studies 2275A/B Chapter Notes - Chapter 13: Sports Agent, Fiduciary, Estoppel

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Creation of agency: agency relationships arise through contract between parties or, by conduct. Implied authority also an authority that the agent actually has, but it is present by implication only an agent will have implied authority when that authority. Is inferred form the position the agent occupies. Is reasonably necessary to carry out or otherwise implement the agent"s express authority: arises by virtue of a well-recognized custom in a particular trade, industry or profession. Dong has the actual authority to engage tailors and to buy fabric up to ,000 per contract. Contracts the customer and enters into a transaction with them is the owner liable: yes. If the costumer was unaware of the truth (3) an agency relationship has been terminated or an agent"s authority has been curtailed. An opportunity comes on the market, but frank cannot reach ahmed. Frank goes ahead and purchases the franchise on ahmed"s behalf.