Actual Authority
Authority an agent actually possesses. Maybe expressed or implied.
Agency
Relations in which one person, the agent, acts on behalf of another,
the principal.
Agency by Estoppel or Apparent Authority
Arises where an agent has no actual authority, but the principal leads
...
✓ One who has permitted another to act for his benefit and subject to his
directions or control.
Ratification
✓ A voluntary election to adopt an act purportedly done on one's behalf
and to treat the act as originally authorized by that person.
Renunciation of Authority
✓ The act by which a person abandons a right acquired without
transferring it to another.
Respondeat Superior
✓ When an employer is acting through an agent, and tort liability is
incurred, the employer is responsible.
Subagent
✓ A party to whom an agent delegates his or her authority.
Undisclosed Prinicpal
✓ If another party has no notice that an agent is acting for a principal.
Master01 |Excellent Study Material| Latest update
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