Ch13_3e - 13-1Copyright 2007 by Nelson, a division of...

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Unformatted text preview: 13-1Copyright 2007 by Nelson, a division of Thomson Canada Limited.CANADIAN BUSINESS CANADIAN BUSINESS AND THE LAWAND THE LAWThird EditionThird EditionbybyDorothy Duplessis Steven Enman Shannon OByrne Sally GunzPresentation prepared by Presentation prepared by Allan Elliott, Southern Alberta Institute of TechnologyAllan Elliott, Southern Alberta Institute of Technology13-2Copyright 2007 by Nelson, a division of Thomson Canada Limited.CHAPTER THIRTEENCHAPTER THIRTEENTHE AGENCY RELATIONSHIPTHE AGENCY RELATIONSHIPOBJECTIVES:The agency relationship and its relevance to businessHow an agency relationship comes into beingAgency duties and liabilitiesHow the agency relationship ends13-3Copyright 2007 by Nelson, a division of Thomson Canada Limited.THE AGENCY RELATIONSHIPTHE AGENCY RELATIONSHIPTHE NATURE OF AGENCYagency a relationship that exists when one party represents another in the formation of legal relationsagent a person who is authorized to act on behalf of anotherprincipal a person who has permitted another to act on her or his behalf13-4Copyright 2007 by Nelson, a division of Thomson Canada Limited.AGENCY DEFINEDAGENCY DEFINEDTHE AGENT PRINCIPAL RELATIONSHIPPA(Principal)(Agent)Figure 13.113-5Copyright 2007 by Nelson, a division of Thomson Canada Limited.AGENCY DEFINEDAGENCY DEFINEDTHE OUTSIDER PRINCIPAL RELATIONSHIPPOSA(Outsider or Third Party) Figure 13.213-6Copyright 2007 by Nelson, a division of Thomson Canada Limited.THE CONCEPT OF AUTHORITYTHE CONCEPT OF AUTHORITYAUTHORITYactual authority the power of an agent that derives from either express or implied agreementapparent authority the power that an agent...
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Ch13_3e - 13-1Copyright 2007 by Nelson, a division of...

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