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Agency Law-

Agency Law-. What is a Principal ?. A party who delegates authority to another party. What is an Agent?. A party who agrees to act on behalf of another party. Duties of Principal to Agent. Compensation Indemnification Cooperation Safety. Duties of Agent to Principal. Loyalty Obedience

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Agency Law-

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  1. Agency Law-

  2. What is a Principal ? • A party who delegates authority to another party

  3. What is an Agent? • A party who agrees to act on behalf of another party

  4. Duties of Principal to Agent • Compensation • Indemnification • Cooperation • Safety

  5. Duties of Agent to Principal • Loyalty • Obedience • Due Care • Notification • Accounting

  6. Creation of the principal/agent relationship • The key is the delegation of authority • express • incidental • implied • apparent • emergency • estoppel • ratification

  7. Termination of the principal/agent relationship • By agreement • By events • By operation of law • regardless of how the relationship is terminated, NOTICE IS KEY

  8. Liability for Contracts • Issues • what authority does the agent have? • What type of principal do we have? • Disclosed • Partially Disclosed • Undisclosed

  9. Liability for Torts • Is the agent an independent contractor or an employee? • Control is Key • If the agent is an employee, was he acting within the scope of his authority? • Instructions • Detour/ Frolic • Intentional Torts/ Crimes

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