Agency Flashcards
agency creation (ABC)
assent (mutual) + benefit of P + control (P)
agency termination (ADE)
agmt or death/incapacity or expiration
actual authority
express or implied
express authority
oral or in writing
implied authority
necessary to carry out mission or acted similarly in past or customary
apparent authority
A holds out + 3rd party relies on it (know of P)
ratification
P can ratify conduct of A
undisclosed P
A liable for Ks entered into
P liability of employee
P liable if within scope of employment
scope of employment (ATPP)
action (detour =/= frolic); time (during work); place; purpose
P liability of indep contractor
P not liable unless inherently dangerous
indep contractor factors
pay, supplies, supervision
A duty of care
reasonable care + loyalty + obedience
GP
2 ppl + carrying on biz for profit + co-owners
GP liability
all partners jointly and severally liable for others
LP
one GP (directs) + one LP (passive)
LP creation
file cert: sig names + address + office
substantial compliance req
LLP
LP + approval + qualification statement
partner control
equal control in decisions
normal decisions: majority
big decisions: unanimous
GP P&L
share in profits and losses together
LP P&L
share in P&L proportionate to contributions
partner duty of care
avoid gross negligence + loyalty
partnership dissolution (WET)
written consent of all + event everyone agrees on + term ends
