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4 Cards in this Set
- Front
- Back
What duties does the Agent owe the Principle?
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the fiduciary duties of:
- LOYALTY - OBEDIENCE - CARE |
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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).
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special skills; undisclosed
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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) |
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How does is the agency made irrevocable?
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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. |