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30 Cards in this Set

  • Front
  • Back
Master Servant
employee is subject to masters control but can't bind him in contract with third party
Master
can be liable for employees torts.
RESPONDEAT SUPERIOR
LET THE MASTER ANSWER
employer is responsible for the torts of his employees
INDEPENDENT CONTRACTOR
right of control means accomplishment rests with the person employed. Employer not liable for torts of independent contractor.
CAPACITY
to be principal ok if he could have entered into contract firectly
POWER OF ATTORNEY
DURABLE-means if the principal becomes incapacitated the Power of Attorney kicks in (till death)
POWER OF ATTORNEY
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
INFANCY
under 18 void
INCOMPENTENCY
unable to understand your acts
voidable
INTOXICATION
If someone is drunk the contract can be void.voidable
GENERAL
agents have broad authorty you apppoint someone your genereal agent they can do anything you can do (except vote, or write your will)
SPECIAL AGENT
limited to a particular task (attorney, real estate agent)
SPECIFIC PERFORMANCE
NEVER APPLIES TO SERVICE CONTRACTS (you can sue for damages but not for specific performance)
APPARENT AUTHORITY
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
OSTENSIBLE AUTHORITY
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
ESTOPPEL
a presentatoin by 1 partner
b) reliance on statement
c) reasonableness of reliance
d) detriment or harm suffered
TERMINATION OF AGENCY
expiration or performance of the agency there is always the problem of lingering apparent authority
OPERATION OF LAW
death either death of principal or agent, insanity, bankruptcy
TERMINATION
upon termination you must give notice to end "lingering apparent authority"
NOTICE
actual or contructive notice
CREATION OF PARTNERSHIP
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
KINDS OF PARTNER
silent-known to public no say in mangement
secret-not known to public -has a say in mangement
both are general partners in liablity
THREE ELEMENTS OF PARTNERSHIP
carrying on a business for profit
co-ownership of goodwill (reputation)
sharing of profits
A PARTNER MAY NOT
confess a judgement
submit to arbitration
PARTNERSHIP
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
APPARENT AUTHORITY
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
EXPRESS AUTHORITY
the authority given by oral or written language explicity by oral language
IMPLIED AUTHORITY
cicumstantially proved which the principal intended the agent to have
RATIFICATION
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
PARTNERSHIP by ESTOPPEL
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