1 / 16

CHAPTER 20 Agency Law

CHAPTER 20 Agency Law. 20-1 Creation and Operation of Agencies 20-2 Agency Duties. 20-1 Creation and Operation of Agencies. GOALS Understand what an agency is Distinguish the scope of agency authority. FOCUS. Do you need an agent?

york
Télécharger la présentation

CHAPTER 20 Agency Law

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. CHAPTER 20Agency Law 20-1 Creation and Operation of Agencies 20-2 Agency Duties

  2. 20-1 Creation and Operation of Agencies GOALS • Understand what an agency is • Distinguish the scope of agency authority Chapter 20

  3. FOCUS • Do you need an agent? • Make a list of times you would want an agent to deal for you. Chapter 20

  4. WHAT IS AN AGENCY? • Principals • Agents Chapter 20

  5. AGENCY RELATIONSHIPS Chapter 20

  6. Define the agency relationship. Chapter 20

  7. SCOPE OF AN AGENT’S AUTHORITY • Creation of authority • Express grant of authority • Implied grant of authority • Apparent authority • Ratification Chapter 20

  8. List the ways in which agency authority can be created. Chapter 20

  9. 20-2 Agency Duties GOALS • List the duties of an agent • List the duties of a principal • Identify when an agency is terminated Chapter 20

  10. FOCUS • Refer to the list of times you would want agents to deal for you. • Make a list of the duties that you would have expected these agents to fulfill. Chapter 20

  11. WHAT ARE AN AGENT’S DUTIES? • Duties owed the principal • Loyalty and obedience • Reasonable care and skill • Confidentiality • Accounting • Duties owed to third parties • Exceeding the scope of authority • Principal’s lack of capacity • Liability due to an undisclosed principal Chapter 20

  12. What are the duties of an agent to the principal? Chapter 20

  13. WHAT ARE THE PRINCIPAL’S DUTIES? • Duties owed the agent • Duties owed third parties Chapter 20

  14. What is a principal’s main duty? Chapter 20

  15. HOW IS AN AGENCY TERMINATED? • By unilateral action of a party • By agreement • By operation of law Chapter 20

  16. Name the three general ways in which an agency may be terminated. Chapter 20

More Related