Agent's Contractual Liability to Third Parties Flashcards
1
Q
When is an Agent contractually liable to a Third Party?
A
An Agent is NOT liable on a contract entered on behalf of a fully disclosed principal (when the third party knows of existence and identity of principal)
An Agent IS liable on a contract entered on behalf of a partially disclosed or undisclosed principal (Third party knows of existence of a principal, but not the identity of Agent’s principal)
