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agency_slides_Notes - Business Law I Agency Law Fall 2007...

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Unformatted text preview: Business Law I Agency Law Fall, 2007 PowerPoint Slides Slide 1 ANNOUNCEMENTS ◆ Reading for Wednesday: Text 347-368; Cases 163-176 ◆ Study session Thursday – B-06 Sage – 7:30 pm ◆ Final exam info on course website – Sign up for early exam by noon Friday ◆ Is your cell phone silent? ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 2 Relevant Definitions ◆ Agency is the ability to bind another contractually. ◆ Employer/employee – master/servant – Partners are agents of partnership and each other but are not employees. – Corporate officers are employees and usually are agents. ◆ Independent contractor – See Jaeger v. Western Rivers Fly Fisher , text at 335. – See Pusey v. Bator. ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 3 Independent Contractor v. Employee ◆ To what degree does the principal exercise direction and control ? ◆ Behavioral control – Instructions – Training ◆ Financial control – Significant investment – Method of payment – Realization of profit or loss ◆ See Clackamas Gastroenterology Assoc v. Wells ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Business Law I Agency Law Fall, 2007 PowerPoint Slides Slide 4 Agency Relationships Principal Agent Third Party ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 5 Issues in Agency Relationship ◆ Is the person an agent? ◆ Does the agent have authority? ◆ To answer these questions, need to know: – How is an agency created and terminated? – How does an agent get authority? – How do you know whether an agent was acting as an agent when the act in question occurred? ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 6 How Is an Agency Created?...
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agency_slides_Notes - Business Law I Agency Law Fall 2007...

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