Agency Flashcards
If a written agreement is necessary for the agency relationship, it will only be binding when there is signed written evidence. This principle is called … .
equal dignities rule
If someone is made to believe they are acting for an agent, the person they are acting for cannot deny they are an agent, which is called … or … .
apparent authority, agency by estoppel
A person who is in fact not an agent or who is an agent acting outside the scope of his or her authority may make a contract on behalf of another (a principal). If the principal affirms that contract by word or action, an agency relationship is created by … .
ratification
The most used form of an agency relationship is the … . The main characteristic of this is that the … has the authority to control the behaviour of the … .
employer-employee relationship, employer, employee
In an … relationship, the behaviour of the … is not fully subject to the will of the principal.
independent contractor, contractor
Because of the doctrine of … , the employers are legally responsible for the conduct of their employees as long as they are acting within the scope of employment.
respondeat superior
Often in the “gig” economy, workers are classified as … in order to avoid liability.
independent contractors
The agent becomes a … by agreeing to act in the best interest of the principal.
fiduciary
Acting in the best interest of the principal is called … .
duty of loyalty
Following reasonable orders from the principal is called … .
duty of obedience
… means that the agent has to behave carefully and try to avoid mistakes.
Duty of care
… means that the principal gives authority through saying it.
Express authority
… means that the agent may do whatever he wants in order to complete the task as long as it is reasonable.
Implied authority
… is when the authority has been given to the agent in previous instances.
Usual authority
… is the authority that agents within that kind of work typically have.
Customary authority