Review for test 3 (Ch18-30, 32)

Review for test 3 (Ch18-30, 32) - TEST III REVIEW 30 32...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
TEST III REVIEW CHAPTERS 28, 29, 30, 32
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
LOGISTICS DATE : Monday, November 19th LOCATION : In class TIME ALLOCATION : 75 Minutes MATERIAL COVERED : Chapters 28,29,30,32 YOU NEED : Scantron Form 882e and a #2 Pencil QUESTIONS : 50 Questions (25 T/F and 25 Multiple Choice) GRADING : 100 Total Points (50 Questions, 2 Points Each)
Background image of page 2
CHAPTER 28 – Agency: The Inside Relationship Creating An Agency Relationship To create an agency relationship, there must be: Consent- principle and agent consent Control- principle controls agent Fiduciary Relationship- beneficiary puts full confidence in the fiduciary who will put themselves second Agents have a fiduciary duty to their principals Elements not required for an agency relationship: In most cases a writing is not required (exception: The equal dignities rule)
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
CHAPTER 28 – Agency: The Inside Relationship Duties of Agents to Principals Agents owe a fiduciary duty to their principals- act in good faith Duty of loyalty Confidential information- therapist/patient, if patient leaves, the therapist cant disclose the information Competition with the principal- agent can’t compete with the principle Duty of due care • Remember professionals (accountants, lawyers, doctors, etc.) are held to a standard higher than ordinary negligence Principal’s remedies when the agent breaches a duty Damages • If the agent breaches the duty of loyalty, he must turn over to the principal any profits he has earned as a result of his wrongdoing If the agent has violated the duty of loyalty, the principal may rescind the transaction
Background image of page 4
CHAPTER 28 – Agency: The Inside Relationship Duties of Principals to Agents
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/01/2008 for the course BA 2301 taught by Professor Mattpolze during the Spring '08 term at University of Texas at Dallas, Richardson.

Page1 / 12

Review for test 3 (Ch18-30, 32) - TEST III REVIEW 30 32...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online