Agency Relationship Flashcards
An agency relationship is created when:
1) A principal manifests assent to an agent,
2) The agent acts on the principal’s behalf,
3) The agent’s actions are subject to the principal’s control, and
4) The agent manifests assent or otherwise consents
Can a minor be a principal?
No.
Factors that determine if a principal is an employer
- control over details of worker’s daily activities
- principal supplies the tools
- pays on a structure pay period
- worker has specialized skill
- directs work to completion
What is required of the agent?
1) Minimal capacity
2) manifest assent to act on principal’s behalf
3) manifest assent to be under the principal’s control
Does an agent need to receive consideration?
No.
Does a principal’s appointment of an agent need to be in writing?
No.
Is a trustee an agent?
Yes, and is subject to the control of the settlor or one or more of its beneficiaries
May an agent who has a subagent be vicariously liable for the sub-agent?
Yes.
Can an agency relationship be terminated unilaterally?
Yes.
