Agency

Fiduciary

By agreeing to act on behalf of the principal, the agent becomes a fiduciary. Loyalty, obedience, and care are the hallmarks of the fiduciary relationship

Respondent Superior

Under the doctrine an agent's employer will be liable for any injuries or damage to the property of another that the agent causes

Agency by estoppel

When a principal causes a third person to believe that another person is his or her agent, and the third person deals with the supposed agent, the principal is "estopped to deny" the agency relationship. In such a situation, the principal's actions create the appearance of an agency that does not in fact exist

Duty of care

fiduciary duty of agents, officers, and directors to act with the same care that a reasonably prudent person would exercise under similar circumstances. Sometimes expressed as the duty to use the same level of care a reasonably prudent person would use in the conduct of their own affairs.

Vicarious liability

he employer may be vicariously liable for an employee's wrongful acts, even though the employer had no knowledge of them and in no way directed them, if the acts were committed while the employee was acting within the scope of employment. Example: if a zipline employee drunkenly doesn't strap someone in and they fall, the company may be held liable

Agency by ratification

A person who is in fact not an agent or who is an agent acting outside the scope of his or her authority may make a contract on behalf of another (a principal). If the principal affirms that contract by word or by action, an agency relationship is created by ratification

Express authority

A principal can confer express authority by actual words— for example, a request that the agent hire an architect to design a new office building. Express authority may also be given by an action that indicates the principal's consent— for example, sending the agent a check for the architect's retainer. An agent has express authority if the agent has a justifiable belief that the principal has authorized the agent to do what he or she is doing

Actual Authority

the authority expressly given by a principal or given by the law

Usual authority

the authority that the agent has been allowed to exercise in the past

Duty of loyalty

The agent has the duty to act solely for the benefit of his or her principal, and not in the interest of the agent or of a third person

Electronic agents

A computer program or an electronic or other automated means used independently to initiate an action or respond to electronic records or performances in whole or in part, without review or action by an individual

Implied ratification

A contract ratification can either be impliedor expressed. If a contract is expressed, it must include direct terms of assent, while an implied contract typically is based on implied laws

Click wrap license or agreement

A prominent feature of electronic commerce is the clickwrap license (or agreement) whereby users assent to a license agreement by clicking on an acceptance box

Aided in accomplishing theory

Agency principle whereby the principal may be held vicariously liable for the wrongful acts of an agent acting outside of the scope of authority because the principal provided the instrumentality or created the circumstances that made it possible for the agent to commit the wrongful act.

Duty of obedience

An agent has a duty to follow all lawful and clearly stated instructions of the principal. In case of emergency, the agent may deviate from the instructions without violating his duty. If the instructions are not clearly stated, the agent can fulfill the duty of obedience (1) by acting in good faith and (2) in a manner reasonable under the circumstances

Implied authority

An agent has the implied authority to do what is reasonably necessary to carry out his or her express authority and accomplish the objectives at hand.

Undisclosed principal

An agent may lawfully conceal the principal's identity or even his or her existence. This may be desirable, for instance, when the principal is trying to buy adjacent properties in an area before news of a business venture is made public

Express ratification

Express ratification occurs when the principal, through words or behavior, manifests an intent to be bound by the agent's act. For example, a principal could ratify an agent's unauthorized purchase of a truck by saying "OK" or simply by paying the bill for the vehicle

Equal dignities rule

If the agent enters into an agreement of a type that must be in writing to be enforceable (such as an agreement for the sale of real property), then the agent's signature on the agreement will not bind the principal unless the agency relationship itself is evidenced by some signed writing. This is called the equal dignities rule

Employer-employee relationship

The basic characteristic of this relationship is that the employer has the right to control the conduct of the employee

Agent

The person acting for or representing the principal

Ratification

The principal can bind himself or herself to an agent's unauthorized acts through ratification—that is, affirmation—of the prior acts. When an act has been ratified, it is then treated as if the principal had originally authorized it

Principal

The principal delegates a portion of his or her power to the agent, who then manages the assigned task and exercises the discretion given by the principal

Agency

one person—the agent—acts for or represents another person

Browse wrap agreement

states that the user is deemed to assent to its terms by its continued use of the website

Independent contractor

such as a lawyer working for a client or a plumber working for a house builder, is not an employee of the person paying for his or her services, because the independent contractor's conduct is not fully subject to that person's control. The person hiring an independent contractor bargains only for results

Customary authority

​In the context of agency, the authority that agents of a particular type would normally possess.