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2 Cards in this Set
- Front
- Back
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vicarious liability
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– a principal may be liable for the acts of another within the principal’s control.
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CREATION OF AN AGENCY RELATIONSHIP
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A. By contract.
1. Written Agreement 2. Oral Agreement 3. Conduct B. Ratification – Principal Affirms Agreement 1. After the fact 2. Agreement was made by a person who was not an agent, or by an agent acting outside of scope of authority. 3. Under these circumstances, principal chooses to accept bargain principal to which principal is not otherwise bound. C. Estoppel/Apparent Authority 1. Principal’s actions cause third person to believe the agent is acting on principal’s behalf 2. Third party deals with the agent. D. Operation of Law 1. Agent’s power to act in emergency 2. Family relationships 3. State officials acting as registered agent for corporation. |
