CHAPTER 19

CHAPTER 19 - CHAPTER SUMMARY Nature of Agency Definition of...

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Unformatted text preview: CHAPTER SUMMARY Nature of Agency Definition of Agency consensual relationship authorizing one party (the agent) to act on behalf of the other party (the principal) subject to the principals control Scope of Agency Purposes generally, whatever business activity a person may accomplish personally he may do through an agent Other Legal Relationships Employment Relationship one in which the employer has the right to control the manner and means of the employees performance of work Independent Contractor a person who contracts with another to do a particular job and who is not subject to the others control over the manner and means of conducting the work Creation of Agency Formalities though agency is a consensual relationship that may be formed by contract or agreement between the principal and agent, agency may exist without consideration Requirements no particular formality usually is required in a contract of agency, although appointments of agents for a period of more than one year must be in writing Mann CH 19- 1...
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CHAPTER 19 - CHAPTER SUMMARY Nature of Agency Definition of...

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