• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/18

Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

18 Cards in this Set

  • Front
  • Back

agency

a relationship between two parties created by an implied or an express agreement or by law,that empowers one of the paarties by word or action to ilegally bind the other

principal

one who authorizes another to enter into legal relationships in his or her behalf

agent

one who is empowered to alterthe legal relations of another

warranty of the prinipals capacity

assumption of the law that the agent promises the third party that the principal has capacity

scope of authority

in employment law range or contractual acts an organization has authorized an employee to do in agency range of contractual authorized by the principal

express authority

agency authority directly communicated by the principal to the agent

power of attorney

any writing that appoints someone as an agent

implied authority

agency authority that is implied from the grant of express authority or because of an emergency
apparent authority

the authority that the principal with knowledge or through negligence permits the agent to assume or which the principal holds the agent cut as passessing

ratification

acting toward the contract as though one intends to be bound by it; principals assent to unauthorized acts of an agent

fiduciary duties

legal requirement for certain categories of persons,such as agents,to subordinate their personal interests in order to act fort the benefit of another person

duty of obedience

requies employee to follow the reasonable orders and rules of the employe;requires agent to carefully obey the instructions of the prinicipal
duty of reasonable care and skill

requires agent to excicise the degree of care and skill any reasonably erudent person would use in a similar

duty of confidentiality

requires agent to treat infirmation about the princiable very carefully

duty of accounting

requires agent to account to the money for all money and property of the principal thar comes into the agent's possession

commingling

mixing the money of the agent and the principal togeter

undisclosed pincipal

principal whose identity is kept secret from the third party by the agent

duty of loyality

agent may not secretly benefit from the agent transaction