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4 Cards in this Set

  • Front
  • Back
What duties does the Agent owe the Principle?
the fiduciary duties of:
- LOYALTY
- OBEDIENCE
- CARE
3P is liable to the P for breach of contract, unless (i) the A has __ __, and (ii) P is __ (3P is unaware of P's existence).
special skills; undisclosed
What are the 6 ways to terminate the agency relationship?

(termination of actual authority by:)
i) lapse of a specified or reasonable time,
ii) the happening of a specified event,
iii) change in circumstances,
iv) A's breach of fiduciary duty,
v) either party's unilateral termination,
vi) operation of law (death or loss of capacity)
How does is the agency made irrevocable?
where the agency is COUPLED w/ an INTEREST.

-if the agency was given to protect the agent's (or 3P's) rights and is supported by consideration.