Specific liability of principals to third parties Flashcards

1
Q

When is a principal liable for contracts that agent enters on their behalf? Two requirements

A

1) when principle authorized agent to enter into K and

2) agent acted with legal authority

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Four types of legal authority

A

1) actual express authority
2) actual implied authority
3) apparent authority
4) ratification

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Difference between actual authority and apparent authority?

A

ACTUAL: principal communicates with agent

APPARENT: principal communicates with third party

How well did you know this?
1
Not at all
2
3
4
5
Perfectly