1) INtro Flashcards
1
Q
agency rship: def
A
1) voluntary
2) fiduciary
rship btwn: principal + agent
2
Q
agency rship: result
A
principal authorizes agent to act on his behalf
if agent is acting w/in scope of authority, agent has authority to bind principal (to k or liability)
3
Q
agency: creation
A
could be by k but not nec
4
Q
types of agency rships
A
1) gratuitous
2) contractual
5
Q
gratuitous agency: def
A
principal does not compensate agent
6
Q
contractual agencies
A
1) ER-EE
2) ER - IC
7
Q
agency as equitable doctrine: kinds
A
agency by estoppel
apparent authority
8
Q
agency as equitable doctrine: use
A
when no ACTUAL agency or ACTUAL authority.
but court will treat as if agency/authority had existed, so still can be bound
