Agency

Question 1

An agency relationship is created when

Answer 1

1) a principal manifests assent to an agent

2) the agent acts on the principals behalf

3) the agents actions are subject to the principles control and

4) the agent manifests assent or otherwise consents

Question 2

An agent agrees to be subject to the principals

Answer 2

Control

Question 3

Capacity in agency -principle relationship

Answer 3

Any individual who has contractual capacity and is not a minor has the legal capacity to enter into an agency relationship as a principal and to appoint an agent

Question 4

Status as a principal is established by

Answer 4

Individuals intent to delegate an act and control the way in which the act is performed by another