3992727
Description
Mind Map by terri.johnson255, updated more than 1 year ago
|
|
Created by terri.johnson255
over 8 years ago
|
|
Agency Law
- ACTUAL authority
Annotations:
- EXPRESS or IMPLIED powers
- agency by agreement
Annotations:
- agency relationship that is created by an oral or written contract between the agent and principal
- agency by estoppel
Annotations:
- agency relationship created because of principal's action caused by a third party to believe an agency relationship exists.
- agency by ratification
Annotations:
- principal approved of an agents unauthorized action after the action occured
- agency by statute
Annotations:
- created by state law
- agency law
Annotations:
- area of law dealing with working relationships created between two parties
- agent
Annotations:
- individual employed by the principalto work the third party
- apparent authority
Annotations:
- occurs when the powers of the agent are created by law or circumstance
- coagents
Annotations:
- two agents that work together
- general agent
Annotations:
- given the authority to perform a variety of tasks
- gratuitous agent
Annotations:
- agent that works for free
- partially disclosed agent
Annotations:
- work with a third party but forbidden to reveal the identity of a principal
- principal
Annotations:
- individual who gives authority to the agent
- special agent
Annotations:
- performs specific tasks
- subagent
Annotations:
- agent appointed by another agent WITH the knowledge and consent of the principal
- agent's agent
Annotations:
- agent appointed by another agent WITHOUT the knowledge or consent of the principal
- third party
Annotations:
- person or company whom the agent deals with on behalf of the principal
- 3.02
Want to create your own Mind Maps for free with GoConqr? Learn more.