Describe the nature of the agency relationship.
Outline the doctrine of vicarious liability.
Distinguish among the different types of principals.
Distinguish among the different types of agents.
Distinguish among express, implied, and apparent authority.
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Business Law with UCC Applications,13eAgency LawChapter 22McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.Learning ObjectivesDescribe the nature of the agency relationship.Outline the doctrine of vicarious liability.Distinguish among the different types of principals.Distinguish among the different types of agents.Distinguish among express, implied, and apparent authority.Learning ObjectivesOutline the duties of an agent to the principal.Clarify the duties that a principal has in relation to an agent.Name the ways that an agency relationship can be terminated.Identify who is entitled to a notice that an agency has ended.Explain electronic agency.Agency LawThe Nature of Agency LawAgency and Other Relationships The Question of LiabilityAgency LawAgency and Other RelationshipsPrincipal-Agent RelationshipEmployer–Employee RelationshipMaster–Servant RelationshipProprietor–Independent Contractor RelationshipAgency LawThe Question of LiabilityContract LiabilityTort LiabilityCriminal LiabilityStatutory LiabilityThe Economic Reality TestSovereign Immunity and the Federal GovernmentSovereign Immunity, Respondeat Superior , and the StatesAgency LawPrinciples of Agency LawTypes of Principals and Agents Liability of Principals and Agents Scope of an Agent’s AuthorityAgency LawScope of an Agent’s AuthorityExpress, Implied, and Apparent AuthorityImplied authorityApparent authorityAgency by RatificationAuthority by StatuteAppointment of SubagentsExceptions to the Delegation of AuthorityAgency LawDuties in Agency LawAgent’s Obligations to a Principal The Principal’s Obligations to the AgentAgency LawAgent’s Obligations to a PrincipalObedience and LoyaltyJudgment, Prudence, Skill, and the Duty to AccountPersonal Service and CommunicationRemedies Available to the PrincipalAgency LawThe Principal’s Obligations to the AgentCompensationReimbursementIndemnificationCooperation with the AgentRemedies Available to the AgentAgency LawA Final View of Agency LawTermination by the Acts of the Parties Termination by Operation of Law Agency Coupled with an Interest Notice of Termination to Third Parties Cyber-Agency StatutesAgency LawTermination by the Acts of the PartiesFulfillment of Purpose or Mutual AgreementRevocation or RenunciationAgency LawTermination by Operation of LawDeath or InsanityDurable Power of AttorneyBankruptcyImpossibility of PerformanceAgency LawAgency Coupled with an InterestNotice of Termination to Third Parties
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