Agency

Front 1

Respondeat Superior

Back 1

P.S.
1. Principal agent relationship
2. Scope

Front 2

The Principal Agent Relationship

Back 2

A.B.C.
1. Assent (informal agreements)
2. Benefits (Agents conduct benefits principal
3. Control (principal has right to supervise

Front 3

Sub Agents

Back 3

None unless ABC

Front 4

Borrowed Agents

Back 4

None unless ABC

Front 5

Independent Contractor

Back 5

No liability unless power to supervise. Exceptions, ultra hazardous, Estoppel (holdout independent contractor as appearance of agent

Front 6

Scope

Back 6

1) Kind
2) Frolic (independent journey) and Detour (mere departure)
3. principal

Front 7

Intentional Torts

Back 7

Not liable unless
1. Authorized
2. Natural from the employment
3. motivated by desire to serve principal

Front 8

Contracts entered into agents

Back 8

Prinicpal is liable for contract entered into by agent if the authorized the agent to enter the contract.
1. Authorized (oral or written-if the contract is in writing the authority needs to be writing).
2. Implied (Necessity, Custom, prior dealings)
3. apparent (cloaked and third party relied-secret limiting and Lingering authority)
4. ratification (knowledge, and benefits, cannot alter the terms

Front 9

Duties agent owes to principal

Back 9

Duty of Care (reasonable person)
Duty of Obedience (obey reasonable instructions)
Duty of Loyalty No
1. Self Help
2. Usurping
3. Secret Profits
4. Damages Disgorge profits

Front 10

Partnership

Back 10

1. Association
2. two or more
3. Carrying on
4. co-owenership for bussiness profit.

Front 11

Sharing Profits

Back 11

The contribution of money, services in return for a share of profits creation a presumption of a general partnership

Front 12

Liabilities of Third Parties

Back 12

1. General partners are liable for partnership obligations
2. Estoppel (representing a third party that a general partnership exists will be liable to a third party)

Front 13

L, Registered Limited liability partnership

Back 13

Limited liability

Front 14

Relationship between partners

Back 14

Fiduciary duties (accounting
only the share of profits is liquidated transferable profits
without agreement, equal control, no salary, equal profits and losses like profits

Front 15

Dissolution

Back 15

1. without an agreement, notice of express will of a GP will start dissolution

Front 16

Priority

Back 16

1. All creditors
2. All capital
3. Profits shared equally be partners minus losses.

Front 17

Distribution

Back 17

Each partner must repay loans and capital plus share of profits, minus the share of losses.