3.02 Agency Law Key Terms

jamaralea16
Flashcards by jamaralea16, updated more than 1 year ago
jamaralea16
Created by jamaralea16 over 5 years ago
13
0

Description

word and definition 3.02 agency law vocabulary flashcards

Resource summary

Question Answer
Agency Authority -expressed and implied powers from an agent.
Agency by Agreement -agency relationship that is created by oral or written contracts between an agent and prinicipal.
Agency by Estopel -agency relationship that is created because of the prinicipal's action caused a third party to believe that an agency exists.
Agency by Ratification -agency relationship that is created because the prinicpal approved of an agents unathorized action after the action takes place.
Agency by Statue -agency relationship created by a state law.
Agency Law -area of law dealing with working relationships between two parties.
Agent -individual employed by a prinicipal to work with a third party.
Agent's Agent -agent appointed by another agent without the knowledge of consent of the prinicipal.
Apparent Authority -occurs when the powers of the agent is created by law/circumstance.
Co-Agents -two or more agents working together.
General Agent -agent that is given the authority to perform a variety of tasks.
Gratuitous Agent -agent that works for no pay.
Partially Disclosed Agent -agent that is given the authority to work with a third party but forbids to reveal the identity of a principal.
Principal -indivdual who gives authority to an agent.
Special Agent -agent that is given the authority to perform specific tasks.
Subagent -agent appointed by another agent with the knowledge and consent of the principal.
Third Party -person or company whom the agent deals with on behalf of the pri
Show full summary Hide full summary

Similar

How to Create A Mindmap
PatrickNoonan
5 Steps to Learning Success
Andrea Leyden
Biology - the digestive system
Oliviax
GCSE History – The early years and the Weimar Republic 1918-1923
Ben C
Derecho Aéreo
Adriana Forero
GLOBALIZACIÒN,ESTADO Y DEMOCRACIA
michel katherine
VIAS DE ADMINISTRACIÓN MEDICAMENTOS
Monsef Dircio
Ley de la propiedad Intelectual en Venezuela
Ovidio Rodriguez
mi mapa conceptual
Noe Noe
FICHAS ETICA
rosario perez perez
Cómo la tecnología ha transformado los procesos de enseñanzaaprendizaje
Selvin Danilo Rosado Tesucun