Chap033 - Chapter 33 Agency Formation and Duties Chapter 33 Agency Formation and Duties CHAPTER OVERVIEW Agency relationships are a crucial part of the

Chap033 - Chapter 33 Agency Formation and Duties Chapter 33...

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Chapter 33 - Agency Formation and DutiesChapter 33 - Agency Formation and DutiesCHAPTER OVERVIEWAgency relationships are a crucial part of the business world. Depending on different types of relationships, different laws will be applicable. The creation and the nature of an agency relationship are also very important in the law.You might want to begin by asking students to read the chapter and reply to the review and case questions at the end of the chapter. Focus on the how agency relationships can be created, the various types of agency relationships, and the duties of both an agent and a principal. As an in class activity, you can discuss the National Farmers Union Insurance case and how Oestman's rights vary depending on if he is an employee or an independent contractor. To help students to develop their critical thinking skills, assign the critical thinking questions following each case and the Allstate Insurance Company article.LEARNING OBJECTIVESAfter reading this chapter, students will be able to answer the following questions: 1.What is agency law?2.How is an agency relationship created?3.What are the different types of agency?4.What are the different types of agency relationships?5.What are the duties of the agent?6.What are the duties of the principal?LECTURE NOTES WITH DEFINITIONS Agency law varies from state to state.How is an agency relationship created?
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Chapter 33 - Agency Formation and DutiesoAgency by implied authority—implied by the conduct of the parties, the circumstances determine the power of the agent.oAgency by apparent agency/agency be estoppel—a principal leads a third party to believe another individual acts as the principal’s agent. Genovese v. Bergeron (briefed below) considers an agreement made by someone with apparent authority.
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  • Spring '12
  • StanFreeman
  • Allstate Insurance Company, Agency Formation

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