Formation Flashcards
1
Q
Formation of Agency Relationship
A
When a principal appoints another to act on the principal’s behalf and the agent consents to act.
2
Q
Who must consent?
A
Both the principal and the agent
3
Q
What is the requisite level of control required?
A
Does not have to be significant. May be found simply by the fact that the principal has specified the task that the agent should perform.
4
Q
What capacity must the principal have?
A
Contractual capacity
5
Q
What capacity must the agent have?
A
Only minimal capacity.
6
Q
Is a writing requried?
A
Generally no. However, SOF may require one (if the contract falls within the SOF’s ambit). Equal diginities rule
7
Q
What methods may create the relationship?
A
By acts of the parties and by operation of law
