Chapt 16 HW - Garrett Barnes Chapter 16 1. Define and...

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Garrett Barnes Chapter 16 1. Define and discuss the concept of agency in the USA. Be sure to include a discussion of principal, agent, and independent contractors. An agency is a business arrangement in which one party, the agent, performs a variety of functions on behalf and at the direction of another party, the principal. Most employees of a corporation are agents of that corporation for one another for a purpose. Independent contractors perform general task for the business, but retain substantial discretion and independence in carrying the out. Under US law, a primary importance of the distinction between agents and independent contractors is that the third parties can generally sue the principal for acts of an agent, but not for those of a contractor. 2. What is Supersession of Agreement with Representative and what effect can it have on international business? Nations often enact laws calculated to protect
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Chapt 16 HW - Garrett Barnes Chapter 16 1. Define and...

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