Agency Flashcards
1
Q
An agency relationship is created by
A
Assent, benefit and control.
2
Q
An agent requires ____ capacity.
A
Minimal.
3
Q
Do you need a writing or consideration to form an agency relationship?
A
No.
4
Q
A principal is liable to third parties for contracts of the agent if there is
A
Authority: actual )express or implied) or apparent Or Ratification.
5
Q
A principal is liable for an agents torts if?
A
Within the scope of agency.
6
Q
An agent can be liable as a party to a contract if:
A
The identity of the principal is not disclosed.
7
Q
Agents have what duties?
A
Duty of care and lyoalty.
8
Q
Principals have what duties?
A
Duty not to interfere and duty to indemnify A for losses in scope of agency.
