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Chapter_29 - Chapter29 Agent NatureofAgency ,the agent,...

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    Chapter 29 Relationship of Principal and  Agent 
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    Nature of Agency  Agency is formed when one party, the  agent, agrees to act in a representative  capacity for another party, the principal.  The agent represents the principal in  dealings with third parties 
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    Scope of Agency Whatever principal can do personally,  agent can do.  Whatever principal can’t legally do,  agent can’t do either  
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    Other Legal Relationships  Employer— Employee hires  subordinate and employer has right to  control activities/conduct of employee.  Independent Contractor— Person  contracted to do job, and one who hires  has no control of activities/conduct. 
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    Creation of Agency  Agencies may be created without  consideration.  1. Formalities— No particular form  required  2. Capacity— When an agent makes a  contract with a third party  
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    Duties of Agent to Principal  1. Duty of Obedience  2.
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