Module 7: Agency Law and Law of Sole Proprietorships & Partnerships

Question 1

when dealing with agents, what rights obligations and liabilities do third parties have in business transactions?

Answer 1

The action of the agent towards third-party is can bind the principal. The agent is not liable for commitments to the third-party if they say they are acting on behalf of principal, but they can bid? the principal to third parties.
The principal delegates authority to the agent, and they act on their behalf in business transactions

Question 2

What are the key features and legal aspects of sole proprietorship, general partnerships, limited, partnerships, limited, liability, partnerships

Answer 2

So providers are the sole owner have full control need business license to operate need to register their business and cannot have a separate legal entity a.k.a. they can’t be sued or cannot sue

Question 3

no answers.
How much are principles responsible for what their agents do what legal consequences my agents face when acting for principles? how do different types of partnerships very what are the pros and cons of each indifferent business situation?