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6 Cards in this Set
- Front
- Back
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Agency
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the fiduciary relation [that] results from the manifestation of consent by one person to another that the other shall act in his [or her] behalf and subject to his [or her] control, and consent by the other so to act.
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fiduciary relationship
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means that the relationship involves trust and confidence.
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Principal
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could be an agent of the store's owner
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Independent Contractor
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a person who contracts with another to do something for him [or her] but who is not controlled by the other nor subject to the other's right to control with respect to his [or her] physical conduct in the performance of the undertaking. He [or she] may or may not be an agent.
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Rule about Employee/Employer Relationships
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All employees who deal with third parties are considered agents (Mostly all employees would qualify)
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Agency relationships arise in 4 ways
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Agreement
Ratification Estoppel Operation of law |
