I need your help for Business Law I homework. All information is...

I need your help for Business Law I homework. All information is provided in the attached files. Please read the first two attachments. Thank you!!!

Saylor URL:
http://www.saylor.org/books
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Chapter 38
Relationships between Principal and Agent
LEARNING OBJECTIVES
After reading this chapter, you should understand the following: 1.
Why agency is important, what an agent is, and the types of agents 2.
What an independent contractor is
3. The duties owed by the agent to the principal
4. The duties owed by the principal to the agent
38.1
Introduction to Agency and the Types of Agents
LEARNING OBJECTIVES
1.
Understand why agency law is important.
2. Recognize the recurring legal issues in agency law.
3. Know the types of agents.
4. Understand how the agency relationship is created.
Introduction to Agency Law
Why Is Agency Law Important, and What Is an Agent?
An agent is a person who acts in the name of and on behalf of another, having been given and assumed
some degree of authority to do so. Most organized human activity—and virtually all commercial activity—
is carried on through agency. No corporation would be possible, even in theory, without such a concept.
We might say “General Motors is building cars in China,” for example, but we can’t shake hands with
General Motors. “The General,” as people say, exists and works through agents. Likewise, partnerships
and other business organizations rely extensively on agents to conduct their business. Indeed, it is not an
exaggeration to say that agency is the cornerstone of enterprise organization. In a partnership each
partner is a general agent, while under corporation law the officers and all employees are agents of the
corporation.
The existence of agents does not, however, require a whole new law of torts or contracts. A tort is no less
harmful when committed by an agent; a contract is no less binding when negotiated by an agent. What
Chapter 38 from Business Law and the Legal Environment was adapted
by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0
license without attribution as requested by the work’s original creator or licensee. © 2014, The Saylor Foundation.

Saylor URL:
http://www.saylor.org/books
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Chapter 39
Liability of Principal and Agent; Termination of Agency
Chapter 39 from
Business Law and the Legal Environment was adapted
by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0
license without attribution as requested by the work’s original creator or licensee. © 2014, The Saylor Foundation.

Read all assigned materials listed. Cite to these materials in in
text citations in all responses you post to these LAs. Create a
separate posting for each learning activity, i.e., one post for
Learning Activity 1, a separate post for Learning Activity 2. Each
activity about 300 words.
Citations should be provided and
properly formatted.
LA 1
In April 2015, Collector appointed Ageless Antiques, a licensed
antique dealership, as agent to Fnd and purchase antique baby
grand pianos manufactured by Steinway between 1880-1900 to
add to Collector’s collection.
Identify and explain, according to the Restatement of
Agency, 6 ways a principal may be bound to contracts
entered into by an agent on behalf of a principal. Analyze
each using the short scenario above.