BUSA 2106 LEGAL ENVIRONMENT AGENCY Edwin K Palmer Agency AGENCY A relationship between two parties where one acts as a representative of the other for a legal purpose Agency vs Independent Contractor Agency vs Independent Contractor the right thing or the wrong thing for your business particularly in this economic environment and the issues are Control Results Agency Formalized Agency o o Power of Attorney Equal Dignity Rule Agency by Ratification Agency by Estoppel Agency by Operation of Law o o o Registered Agent for Corporation Business Family Purpose Doctrine And more Duties Duties of Agents to Principals o o o o o Performance Notification Loyalty Obedience Accounting Duties of Principals to Agents o o o o Compensation Reimbursement and Indemnification Cooperation Provide a safe work place Agent s Authority and Contracts Scope of Agent s Authority in the World of Contracts o o Actual Authority Express and Implied Apparent Authority Liabilities Liability for Contracts Principal s Agent s Both o o o Disclosed Principal Partially Disclosed Principal Undisclosed Principal How to sign the Contract so as to CYA Liabilities Liability for Agent s Torts Doctrine of Respondeat Superior All about facts and the many ways of looking at it coming and going rule frolic and detour Liability of Principal for Intentional Torts of Agent Liability of Principal for Tort of the Independent Contractor Termination of Agency Relationship