Chapter_30

Chapter_30 - Chapter30 RelationshipwithThirdParties...

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    Chapter 30 Relationship with Third Parties
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    Contract Liability of the  Principal  Types of Authority Actual Apparent Actual Expressed Actual Implied
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    Actual —This authority is what is  expressly or impliedly granted to agent.  Apparent Authority —Acts of conduct  of principal that shows third party that  agent has actual authority.  
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    Actual Expressed and Implied Actual Express Authority —Found in  words expressed by principal  Actual Implied Authority —Inferred  from conduct or words of principal to  agent.  
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    Delegation of Authority  Agent ordinarily has no power to  delegate his authority to subagent.  In some situations subagents can be  hired.  If agent can appoint subagents, acts of  these people binding on principal. 
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    Effect of Termination of  Agency   When agency terminates, agent’s actual  authority ends  Apparent authority continues, in other  cases until third party knows or receives  actual notice. 
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    Ratification  This is affirmance of a prior act of agent.   It binds principal and third party, and is 
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This note was uploaded on 03/08/2010 for the course BL 3305 taught by Professor Nunley during the Fall '09 term at Baylor.

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Chapter_30 - Chapter30 RelationshipwithThirdParties...

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