Paper Notes Flashcards
1
Q
Agent Authority: Principal
A
1) Actual Authority
a) Express
b) Implied
2) Apparent Authority
a) Principale “cloaked: agent with appearance of authority
b) 3rd party reasonably relies on appearance
3) Ratification
a) principal has knowledge of all material facts
b) principal accept in benefit
c) Exception
* Ratification cannot alter the terms of the contract.
