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8 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Agency - Subject Outline
"principals CORRAL IT agents" |
C-Creation
O-Obligations R-Rights R-Ratification A-Authority L-Liabilities I -Imputed Knowledge T-Termination |
Creation - of Principal/Agent relationship
Obligations - loyalty, obedience, stewardship Rights - of parties Ratification - by principal Authority - express, implied, apparent Liability - primary & vicarious Imputed knowledge Termination |
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Agency - Creation
"creating an agency relationship is as easy as ABCD" |
A-Assent
B-Benefit C-Control D-During |
Assent-requires mutuality
Benefit-to principal Control-of agent by principal During-and within Scope of employment |
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Agency - Obligations
" " |
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Agency - Rights of both parties
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Agency - Ratification
" " |
Actions as if authorized
Receive benefits or other conduct indicating consent. |
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Agency - Authority
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Agency - Liability
" " |
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Agency - Termination
" " |
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