Agency MEE

Question 1

Terminating agency?

Answer 1

Principle manifesting desire for the agent to stop

Question 2

When determining whether agency exists, what do you need to look for?

Answer 2

1. Consent by both the principle and the agent that the agent will act in the principles benefit
2. That the agent is the subject to the principles control

Question 3

Principles are bound to contracts entered into by an agent if the agent had authority. Types of authority?

Answer 3

1. Actual authority --Can be express where the agent is expressly given authority to act for the principles-Can be implied, where the principles conduct leads the agency to think they have the authority
2. Apparent authority

Question 4

Ratification agency?

Answer 4

Principle can ratify a contract if he 1. accepts it and 2. knows all of the facts and 3. has the capacity

Question 5

How can an agent be bound to the terms?

Answer 5

1. No apparent or actual authority
2. Undisclosed or partially disclosed principle
3. Liable to principle for acting beyond scope

Question 6

How can principles be held vicariously liable for the torts of their agents?

Answer 6

1. Acts are within the scope of employment
2. Made a detour (not a frolic)
3. Principle is directly liable for his own negligence if he negligently hired, fired, or supervised agent