BLS 342 Exam 4 (Final) 8

BLS 342 Exam 4 (Final) 8 - Express authority, implied...

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Express authority, implied authority and apparent authority – who has what and why do we care? Authority of Agent and Liability of Principal Express Authority: Principal explicitly instructed agent to perform act ( Principal Implied authority: Relationship inferred from actions/ conduct of principal;  authority inferred from nature of relationship ( Agent ) Apparent authority and estoppels: Third party reasonably believes ( based on  actions of  principal ) that agency relationship exists between principal and  another individual ( Person’s apparent authority NOT RIGHT!!!!!!!! ) o Ex. See a Tom’s bread truck driving down the street (driver not the owner) Someone stops the truck and wants 500 loaves from driver  No delivery  sues bread co owner (Tom) o Ex. See a Tom’s truck driving down the street (Truck says on it: See driver  for bread orders)  Man tells driver he wants 500 loaves
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This note was uploaded on 10/20/2011 for the course BLS 342 taught by Professor Miller during the Spring '08 term at Miami University.

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BLS 342 Exam 4 (Final) 8 - Express authority, implied...

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