EXAM APPROACHQuestions to ask:
1.) Is there a Principal-Agent relationship/and what type?
2.) If so, does the issue involve a TORT or CONTRACT?
An agency is a fiduciary relationship that arises when one person (a
principal) manifests assen
COMPARISON CHART OF DIFFERENT
TYPES OF BUSINESS ORGANIZATIONS
CREATION & APPLICABLE LAWS
1. Applicable MN
Business Associations Klein, 3rd Edition
PART I: AGENCY & PARTNERSHIP: BASIC FORMS OF ENTERPRISE ORGANIZATION- AGENCY, PARTNERSHIP, &
Introduction and Agency Law
a. Law of enterprise organization:
i. Agency= simplest=> can be terminated at any time
12:00 - 1:15
This Spring, 2016 course will focus on the law relating to the contradictory pulls between
regulation and deregulation of business and the consequences of those choice
Business Org. Study Sheet
by mutual consent,
one person or entity (called the agent)
undertakes to act on behalf of another person or entity (called the principal)
subject to the principals control.
Some form of authority in order to bind t