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4 Cards in this Set
- Front
- Back
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Agency Relationship
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Involves 2 parties, one being the agent and the other the principal. The agent agrees to represent or act for the principal.
Exists between employers & employees or employers & independent contractors; hired to perform special tasks or services. |
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Agency
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The fiduciary relation that results from the manifestation of consent by one person to another - The other shall act in his or her behalf/subject to his or her control.
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Fiduciary
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The heart of agency law.
Noun: A person having a duty created by his/her undertaking to act primarily for another's benefit. Adjective: Trust & Confidence. |
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Independent Contractor
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Not employees, those who hire them have no control over the details of of their work performance.
- How much control the employer has over the details of work -Engaged in an occupation or business distinct from that of the employer - Is work done under employers direcrion? -Does the employer supply tools and equipment? - How long is the person employed? - What is the payment method? by time period or at the completion of the job? |
