Agency

Question 1

Agency: General Roadmap

Answer 1

I. Creation
II. Termination
III. Liabilities and Third Parties
IV. Duties Owed Between Agent and Principal

Question 2

I. Creation

Answer 2

A. Elements (Assent, Benefit, Control)
B. Formalities
C. Parties

Question 3

III. Liabilities to Third Parties

Answer 3

A. Contract Liability
1. Actual Authority (Express, Implied)
2. Apparent Authority
3. Ratification
4. Estoppel
5. Liability of Agent

B. Tort Liability
1. Respondeat Superior
2. Apparent Authority
3. Direct Liability
4. Liability of Agent

Question 4

IV. Duties Owed Between A and P

Answer 4

A. Duties of the Agent
1. Duty of Loyalty
2. Duty of Reasonable Care
3. Duty of Obedience
4. Duty of Notification and Accounting

B. Duties of the Principal
1. Duty to Compensate
2. Duty of Good Faith and Fair Dealing
3. Duty to Cooperate
4. Duty to Indemnify

C. Remedies for Breach of Duty