3992699
Description
Flashcards by jamaralea16, updated more than 1 year ago
|
Created by jamaralea16
over 8 years ago
|
|
| Question | Answer |
| Agency Authority | -expressed and implied powers from an agent. |
| Agency by Agreement | -agency relationship that is created by oral or written contracts between an agent and prinicipal. |
| Agency by Estopel | -agency relationship that is created because of the prinicipal's action caused a third party to believe that an agency exists. |
| Agency by Ratification | -agency relationship that is created because the prinicpal approved of an agents unathorized action after the action takes place. |
| Agency by Statue | -agency relationship created by a state law. |
| Agency Law | -area of law dealing with working relationships between two parties. |
| Agent | -individual employed by a prinicipal to work with a third party. |
| Agent's Agent | -agent appointed by another agent without the knowledge of consent of the prinicipal. |
| Apparent Authority | -occurs when the powers of the agent is created by law/circumstance. |
| Co-Agents | -two or more agents working together. |
| General Agent | -agent that is given the authority to perform a variety of tasks. |
| Gratuitous Agent | -agent that works for no pay. |
| Partially Disclosed Agent | -agent that is given the authority to work with a third party but forbids to reveal the identity of a principal. |
| Principal | -indivdual who gives authority to an agent. |
| Special Agent | -agent that is given the authority to perform specific tasks. |
| Subagent | -agent appointed by another agent with the knowledge and consent of the principal. |
| Third Party | -person or company whom the agent deals with on behalf of the pri |
Want to create your own Flashcards for free with GoConqr? Learn more.