Agency and Partnerships Flashcards by Elizabeth Thacker | Brainscape

Q

Creation of an agency relationship

A

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Q

Types of agency relationships

A

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Q

Termination of agency relationship

A

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Q

Agency contracts

A

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Q

Actual authority

A

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Q

Apparent authority

A

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Q

A principal holds an agent out as having authority if:

A

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Q

Apparent authority is not applicable if:

A

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Q

Unidentified/partially disclosed principal

A

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Q

Undisclosed principal

A

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Q

Inherent agency power (first group)

A

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Q

Inherent agency power (Second group)

A

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Q

Ratification

A

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Q

Agent’s contractual liability

A

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Q

Employee v. independant contractor

A

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Q

Respondeat superior doctrine

A

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Q

Time place purpose test

A

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Q

Respondeat superior: intentional torts

A

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Q

Not within the scope of employment

A

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Q

Liability if respondent superior is inapplicable

A

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Q

Liability for independant contractors

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Q

Duties owed by agent to the principal

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Q

Authorities

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Q

General partnership

A

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Q

Limited partnerships

A

Q

Limited liability partnership

A

Q

Amending the partnership agreement

A

Q

Authority to bind the partnership

A

Q

Express actual authority

A

Q

Ordinary course of business

A

Q

Implied actual authority

A

Q

Apparent authority of partners

A

Q

Authority to bind the partnership after dissolution

A

Q

Liability of general partners

A

Q

Liability of incoming partners

A

Q

Judgement enforcement against a partner’s personal assets

A

Q

Liability of limited partners

A

Q

Sharing of profits and losses

A

Q

Right to management and control

A

Q

Liability of limited liability partners

A

Q

Transfer of partnership ownership

A

Q

Right to partnership property

A

Q

Remuneration (payment for partner’s services)

A

Q

Advance of funds and reimbursement

A

Q

Management and control in LP

A

Q

LP’s right to inspect records

A

Q

Duty of care

A

Q

Duty of loyalty

A

Q

Duty to provide full information

A

Q

Action against a partner for misconduct

A

Q

Dissociation (withdrawal of a partner)

A

Q

Dissociation events

A

Q

Wrongful dissociation

A

Q

Dissolution of a general partnership

A

Q

Does dissociation cause dissolution?

A

Q

Dissolution of a limited partnership

A

Q

Dissolution

A

Q

Winding up

A

Q

Termination

A

Q

Distribution of partnership assets

A