Agency- Lowenstein- 2006- Annonymous

Agency- Lowenstein- 2006- Annonymous - Agency, Partnership,...

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Agency, Partnership, And The LLC 9:30-10:30 TRF, Room 154 Professor Lowenstein Introduction - Why take Agency? Permeates many areas of the law. Three principles for first half of semester. 1) Fiduciary relationship- Agent is a fiduciary to the principle. Thus, fiduciary has duties (act with care, loyalty, etc.). Carrier case- controversy of plumber as agent of owner. If agent then duty to get refund, but ultimately conclude agent and acted with care. 2) Agent's Principal has certain liabilities for Agent. Corresponding consequence to the principle. Principle liable for contracts made on behalf. Principle may be liable for agents' torts/ statutory violations in course of agency. 3) Minor Consequences- GE case. if a person is an agent, law treats P&A as one. i.e. antitrust purposes can't be guilty of conspiracy with your agent (conspire with yourself). GE (resale price maintenance) GE didn't require another party to fix a price, it was themselves because seller was their agent. a) Relationship may arise through implication and not express contract. Doesn't necessarily have to arise. In many cases Agent claims no onus of fiduciary relationship. Carrier Case - (Plumber case) Bought it four years ago and try to return it for a credit. Guy says sure, and no credit is forthcoming. cause of action? Breach of the duty of care. Possibly contract (performance, but consideration problem). But, is breach of duty contain a consideration problem? Possibly cause of gratuitous agreement. No discussion though. Reason is no consideration for agency relationship. Circumvents law of contract. Fact question is simple. Reasonable care? Answer was yes. Why? No basis, gratuitous and give a lower standard of care. Burden? Look up. Last point not in case, but influences a lot. Expectation of P and amount A makes. notes: Account receivable and A to pick up. If A does letter gratuitously and no money is forthcoming is one situation. Pay A fee and A just sends a letter, not enough, A needs to do more, right? Nature. MD & Associates - (Lease Renewal) A-P relationship can arise by implication. A never knows of lease renewal. Sue to evict sears. Cause of action is unlawful possession and breach of contract. Sears defense is renewal of lease. A? Secretary as A. A&P are the same. Notice to A is Notice to P even if P never receives it. Secretary is A. P consented to allow A to become A. (look up in Corporations book). Co-agents, though. Simultaneously be co-A & be a P. Sub-A follows activity being done. Suppose Secretary threw out the lease. A's are personally liable for own misconduct. Still received for P as outside scope, though? A= on behalf and subject to control and consent of P. quick: Probably P is still responsible absent some other circumstances. Economically efficient solution.
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This note was uploaded on 02/12/2008 for the course LAW 6201 taught by Professor Lowenstein during the Spring '06 term at Colorado.

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Agency- Lowenstein- 2006- Annonymous - Agency, Partnership,...

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