Essay 50 Point 1 (b) -- Agent's scope of duties to LLC

Question 1

When does an agency arise?

Answer 1

1) when one person (a ‘principal’) manifests assent

2) to another person (an ‘agent’) that the
*agent shall act on the principal’s behalf *

3) and subject to the principal’s control, and

4) the agent manifests assent or otherwise consents so to act.”

Question 2

How does a person manifest assent in agency formation?

Answer 2

1) through written
2) or spoken words
3) or other conduct

Question 3

To create agency, what must both prinicpal and agent understand?

Answer 3

1)That principal
2) is in control of relationship

Question 4

At a minimum, what must a principal have the right to control for a valid agency formation?

Answer 4

1) principal has
2) )right to control the
3) goal of the relationship

Question 5

What does an agency relationship not depend on?

Answer 5

1) Prin compensating agent
2) either party’s recognition that agency relationship is created

Question 6

What is the application of the rule in essay 50?

Answer 6

P’s oral manifestation: Ben asked neighor to purchase hole digger
A’s manifestation: Oral, Neighbor agreed to do this
P’s control of A: Agent Neighbor agreed to purchase hole digger from farm store