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14 Cards in this Set

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Tort
Neglagence, neglagent act (civil law)
Agency
relationship where one part (the agent) acts on behalf of another (the principal)
Enployee vs. Independent Contractor (Differences)
1. Taxes (withholding for employee only)
2. Benifits for employee only(includes firing)
3. Ownership and I.P. (for employee, rights automatically go to employer, not same for indep. contractor
Estoppel
to prevent; theory under which a person is barred from asserting or denying a fact because of the person's previous acts or words; appearance of 3rd party that you are an agent of a particular agency
3 Types of Authority
1. Actual Express (Oral or written)
2. Actual Implied (authority resonaly thinks he/she has)
3. Apparent Authority (like an estoppel; prinicial gives appearance that a person is an agent to a 3rd party
Indemnification
part of a contract that provides for one party to bear the monetary costs for losses incurred by the 2nd party
Duties of Agent to Principal
Duty of Loyalty; Duty of Care; Duty to Notify
Duties of Principal to Agent
Compensation; Indemnification
Contract Issues (Fully Disclosed)
3rd party knew agent represented the principal and knew the identity of the principal = Principal is liable, Agent is not
Contract Issues (Undisclosed)
3rd party knew neither of existence of agency nor the prinicipal = Agent is liable, principal is not
Tort Issues (Rule)
Whether an employer is liable to a third party for negligence of the employee depends on whether the negigence occurred in the scope of employment
Detour (Tort Issues)
Employee stops along the way of normal work to do a personal "errand" = employER is liable
Frolic (Tort Issues)
Employee does something completely for his or herself on company time = employEE is liable
Business Trip - Who is liable?
EmployER b/c you are the face of the company