TAILIEUCHUNG - Lecture Business law: The ethical, global, and e-commerce environment (15/e): Chapter 35 - Mallor, Barnes, Bowers, Langvardt

Chapter 35 - The agency relationship. When you finish this chapter, you should: know how an agency relationship is created and terminated, distinguish employees from nonemployee agents, recognize when an agent risks breaching a fiduciary duty. | Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 8 The Agency Relationship Third-Party Relations of the Principal and the Agent Agency Law P A R T The Agency Relationship P A E T R H C 35 I’ve got an ego and all that, but I know I need help. So I go and hire the very best people. H. Ross Perot, EDS founder Inc. magazine (Jan. 1989) Learning Objectives Know how an agency relationship is created and terminated Distinguish employees from nonemployee agents Recognize when an agent risks breaching a fiduciary duty Agency is a two-party relationship in which one party (agent) is authorized to act on behalf of and under the control of another party (principal) Anybody may be an agent or principal, but the agreement is voidable by minors and the mentally incapacitated Overview MDM Group Associates, Inc. v. CX Reinsurance Company Ltd.: Agent owes a fiduciary duty to principal, but not vice versa. Insurance broker MDM contended that CX, as the .

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• Business law
• Business ethics
• E commerce environment
• Regulation of business
• Agency relationship
• Agency authority
• Dynamic business law
• Lecture Dynamic business law
• Legal environment of business
• Criminal law
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• Classification of law
• Law of torts
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