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30 Cards in this Set
- Front
- Back
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Master Servant
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employee is subject to masters control but can't bind him in contract with third party
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Master
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can be liable for employees torts.
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RESPONDEAT SUPERIOR
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LET THE MASTER ANSWER
employer is responsible for the torts of his employees |
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INDEPENDENT CONTRACTOR
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right of control means accomplishment rests with the person employed. Employer not liable for torts of independent contractor.
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CAPACITY
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to be principal ok if he could have entered into contract firectly
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POWER OF ATTORNEY
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DURABLE-means if the principal becomes incapacitated the Power of Attorney kicks in (till death)
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POWER OF ATTORNEY
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Non-DURABLE if you are incapcitated the POA can be broken not affected by the incapcity of the principal is effected by the capacity of teh principals
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INFANCY
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under 18 void
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INCOMPENTENCY
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unable to understand your acts
voidable |
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INTOXICATION
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If someone is drunk the contract can be void.voidable
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GENERAL
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agents have broad authorty you apppoint someone your genereal agent they can do anything you can do (except vote, or write your will)
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SPECIAL AGENT
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limited to a particular task (attorney, real estate agent)
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SPECIFIC PERFORMANCE
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NEVER APPLIES TO SERVICE CONTRACTS (you can sue for damages but not for specific performance)
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APPARENT AUTHORITY
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if it walk like a duck, talks like a duck, it's a duck..someone who holds themselves out as having authority...must be reasonable
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OSTENSIBLE AUTHORITY
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same as apparent if the agents does something he is not allowed to by principal the principal can deny it however if a 3rd party isinvolved teh principal can be held liable
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ESTOPPEL
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a presentatoin by 1 partner
b) reliance on statement c) reasonableness of reliance d) detriment or harm suffered |
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TERMINATION OF AGENCY
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expiration or performance of the agency there is always the problem of lingering apparent authority
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OPERATION OF LAW
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death either death of principal or agent, insanity, bankruptcy
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TERMINATION
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upon termination you must give notice to end "lingering apparent authority"
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NOTICE
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actual or contructive notice
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CREATION OF PARTNERSHIP
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by contract either implied or express or estoppel
express written or oral implied by actions estoppel you can't deny you are partners based on how you acted |
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KINDS OF PARTNER
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silent-known to public no say in mangement
secret-not known to public -has a say in mangement both are general partners in liablity |
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THREE ELEMENTS OF PARTNERSHIP
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carrying on a business for profit
co-ownership of goodwill (reputation) sharing of profits |
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A PARTNER MAY NOT
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confess a judgement
submit to arbitration |
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PARTNERSHIP
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assn of 2 or more people who act as agents for each other to carry out a business for profit and who agree to share profits and losses general or limited
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APPARENT AUTHORITY
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authority which the principal holds his agent out as having and allows agent to "look like" he has it. it is created incidental authority by neccessity implied or actual
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EXPRESS AUTHORITY
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the authority given by oral or written language explicity by oral language
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IMPLIED AUTHORITY
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cicumstantially proved which the principal intended the agent to have
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RATIFICATION
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adoption of the acts of the agent that were previously unauthorized when the principal ratiPfies it relates back to the time of the original act of the agent
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PARTNERSHIP by ESTOPPEL
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based on the appearance of a grant of authority based on how you act.
a) representation by one that he/she is a partner b) reliance on the statement c) reasonable |
