ACA Law Chapter Three Agency

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How can agency be created
Agency by consent
Agency by estoppel
Agency by Necessity
Ratification
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Whose conduct can create agency by estoppel
The principals
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What needs to be shown in agency by necessity
No practical way of contacting the principal
Pressing need for action
Good faith, in interests of principal
Action was reasonable and prudent
Existing contractual relationship
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What acts can be ratified
Only past acts
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What condition need to be satisfied for a principal to ratify a contract
The principal must have been in existence at the time of the act
The principal must have legal capacity at the time of the act and at ratification
The agent must name or identify the principal at the time of the contract
Must ratify in a reasonable timefr
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What are the rights of an agent
Indemnity
Remuneration
Lien
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What are the duties of an agent
Accountability
No conflict of interest
Performance
Obedience
Skill
Personal performance
Confidence
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What types of authority are there
Actual express
Actual Implied
Ostensible
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What can implied authority include
Things that are incidental to the action
Things that are usual for the agent
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Whose can create ostensible authority
The principal if they represent to the other party that authority is given
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What can an agent be liable of if they act with no authority
A tort of deceit
Breach of warranty of authority
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Who can the third party sue if the agent had authority but it is not known to be an agent
Either the principal or the agent
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Other cards in this set

Card 2

Front

Whose conduct can create agency by estoppel

Back

The principals

Card 3

Front

What needs to be shown in agency by necessity

Back

Preview of the front of card 3

Card 4

Front

What acts can be ratified

Back

Preview of the front of card 4

Card 5

Front

What condition need to be satisfied for a principal to ratify a contract

Back

Preview of the front of card 5
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