Agency Law-

What is a Principal ? A party who delegates authority to another party

What is an Agent? –A party who agrees to act on behalf of another party

Duties of Principal to Agent Compensation Indemnification Cooperation Safety

Duties of Agent to Principal Loyalty Obedience Due Care Notification Accounting

Creation of the principal/agent relationship The key is the delegation of authority –express –incidental –implied –apparent –emergency –estoppel –ratification

Termination of the principal/agent relationship By agreement By events By operation of law –regardless of how the relationship is terminated, NOTICE IS KEY

Liability for Contracts Issues –what authority does the agent have? –What type of principal do we have? Disclosed Partially Disclosed Undisclosed

Liability for Torts Is the agent an independent contractor or an employee? –Control is Key If the agent is an employee, was he acting within the scope of his authority? –Instructions –Detour/ Frolic –Intentional Torts/ Crimes