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test3notes - Chapter 19 Agency and employment laws Agency...

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Chapter 19- Agency and employment laws Agency Relationships 568 Principal-party wanting to interact with the 3 rd party (company) Agent- contracts with principal to interact with 3 rd party on behalf of the principal (employees) (the people who get the work done) can be independent contractor Legal purpose of the agent is to create a binding relationship between the principal and 3 rd party Agent duties – loyalty to act for the principal’s advantage, keep informed, obey instructions, and to account to the principal for monies handled Torts 569 principal liable under respondeat superior (let the master reply) requires an employer to answer for damages caused by employee who is acting in accordance within his employment o if harm caused within scope of work o the employee is advancing the interests of the employer when the tortuous act occurs o most respondeat superior cases involve employee negligence o the employer is strictly liable once the employee’s fault is established intentional tort – service rep strikes customer during argument over the return of merchandise (liable) Only defense: employee was outside the scope of employment o frolic and detour (no longer acting for the employer) employer or insurer can sue employee for reimbursement Contracts contract negotiated within third party, principal bound if agent was authorized 570 actual authority- specific instructions, whether spoken or written, given by an employer to an employee create actual authority 571 implied- can be inferred from the acts of an agent who holds a position of authority or who had actual authority in previous situations apparent- appears to be an agent with authority but acts outside of authority (let people know if you terminate an employee) o trading partnership - one engaged n the business of buying and selling commodities, has the implied authority to borrow money in the usual course of business and to pledge the credit of the firm o nontrading partnership - accounting or other service firm - has no implied power to borrow money. (must be actual authority before the firm will be bound) 572 ratification - occurs when a principal voluntarily decided to honor an agreement, which otherwise would not be binding due to an agent’s lack of authority o contract outside of agent authority may be ratified and become binding agency duties loyalty keep principal informed obey instructions account for money partnership liability- each partner is agent and principal
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introduction employment laws are among the most emotionally and politically charged topics labor law o prohibits unfair labor practices o promotes good faith collective bargaining between employers and employees o addresses relationship between employers and unions minimum wages and maximum hours 572 fair labor standards act (1938) o minimum wage, overtime pay, record keeping, and child labor standards o hours worked, safety requirements
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test3notes - Chapter 19 Agency and employment laws Agency...

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