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Chpt 34 3r Party

Kubasek Chapter 34 Liability to third parties and termination

QuestionAnswer
Actual notice Notice of agency termination that is given by directly informing third parties, either orally or in writing.
Agency coupled with an interest An agency relationship that is created for the benfit of the agent, not the principal.
constructive notice Notice of agency termination that is usually given by publishing an announcement in a newspaper.
disclosed Principal A principal whose identity is known to a third party. The third party is aware that the agent is making an agreement on behalf of the principal.
general power of attorney A type of express authority that allows an agent to conduct all business for the principal.
Partially disclosed principal A principal whose identity is not known by a third party, although the third party is aware that the agent is making an agreement on behalf of a principal. also called unidentified principal.
respondeat superior The Principal/employer is liable not because he was personally at fault but because he negligently hired an agent.
Special power of attorney A type of express authority that allows an agent to act on behalf of the principal only in regard to specifically outlined acts.
undisclosed principal A principal whose existence is not known by a third party. that is, the third party does not know that an agent is acting on behalf of a principal.
vicarious liability The liability or responsibility imposed on a person, a party, or an organization for damages caused by another, most commonly used in relation to employment with the employer held vicariously liable for the damages caused by the employees.
Classification of the principal The principal must be classified as either disclosed, partially disclosed, or undisclosed.
Authorized Acts These are acts within the scope of the agent's authority
Unauthorized Acts These are acts go beyond the scope of the agent's authority.
Principal's Tortious conduct: The law holds a principal directly responsible for his own tortious conduct under 2 conditions: P direct the agent to commit a tortious act 2. P fails to provide proper instruments or tools or adequate instructions
Agent misrepresentation If an agent misrepresents himself to a third party, the principal may be tortiusly liable for the agent's misrepresentation.
Principal's liability and the independent contractor An individual who hires an independent contractor connot be held liable for the independent contractor's tortious actions under the doctrine of Respondeat superior unless the contractor engages in hazardous activities.
Crime and Agency relationships If an agent commits a crime, clearly the agent is liable for the crime.
termination by acts of parties termination may occur by lapse of time, fulfillment of purpose, occurrence of a specific event, mutual agreement by the parties, revocation of authority, or renunciation by the agent.
termination by operation of Law: The agency relationship may be terminated automatically due to death, insanity, bankruptcy, changed circumstances, change in law, impossibility, disloyalty of agent, or war.
Created by: tinafici