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Terminating Agency and Contractual Relationships

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Home › Business Law Mastery › Chapter 13: Terminating Agency and Contractual Relationships Chapter 13: Terminating Agency and Contractual Relationships Agency relationships may end by act of the parties or by operation of law . 🎯 Learning Objectives Explain the different ways an agency relationship can be terminated. Distinguish between termination by act of the parties and termination by operation of law. Understand the effect of termination on actual and apparent authority . Analyze the doctrine of lingering authority ( Watteau v. Fenwick ) and the importance of notice to third parties . Discuss the contractual consequences of termination, including at‑will termination and liability for wrongful termination . 📖 Introduction Like any relationship, an agency may come to an end. Termination can occur by the mutual agreement of the parties, by the unila...
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Liability of Principals and Agents to Third Parties

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Home › Business Law Mastery › Chapter 12: Liability of Principals and Agents to Third Parties Chapter 12: Liability of Principals and Agents to Third Parties   🎯 Learning Objectives Distinguish between contract liability and tort liability in agency. Explain when a principal is bound by an agent’s contracts (actual authority, apparent authority , ratification). Describe the effects of disclosing, partially disclosing, or not disclosing the principal’s identity. Understand the doctrine of respondeat superior and the scope of employment test for tort liability. Analyze landmark cases: Lloyd v. Grace, Smith & Co. (apparent authority), Christensen v. Swenson (scope of employment), Ira S. Bushey & Sons, Inc. v. United States ( frolic and detour ). Identify when an agent is personally liable to third parties. 📖 Introduction One of the most critical questions i...
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The Principal's Role – Duties to the Agent

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Home › Business Law Mastery › Chapter 11: The Principal's Role – Duties to the Agent Chapter 11: The Principal's Role – Duties to the Agent   🎯 Learning Objectives Understand the reciprocal duties principals owe to their agents . Explain the duty to compensate , including when compensation is owed and the concept of quantum meruit . Describe the duties to reimburse and indemnify the agent for expenses and losses incurred in the principal’s service. Explain the duty to cooperate and not to interfere with the agent’s performance. Analyze landmark cases: Lutringer v. United States (compensation for profits), Crown v. Jones (indemnification), and Chamberlain v. Beller (cooperation). Apply these duties to common business scenarios involving employees and independent contractors . 📖 Introduction Just as agents owe fiduciary duties to their principals, principals ow...
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The Agent's Role – Duties of Loyalty, Performance, and Care

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Home › Business Law Mastery › Chapter 10: The Agent's Role – Duties of Loyalty, Performance, and Care Chapter 10: The Agent's Role – Duties of Loyalty, Performance, and Care Agents owe fiduciary duties of loyalty, performance, and care to their principals. 🎯 Learning Objectives Explain the fiduciary nature of the agency relationship. Describe the agent’s duty of loyalty , including the prohibition on self‑dealing , usurping opportunities , and secret profits . Define the agent’s duty of performance (obedience) and duty of care (skill and diligence). Analyze landmark cases: Meinhard v. Salmon (duty of loyalty), Reading v. Attorney‑General (accounting for profits), Tarnowski v. Resop (damages for breach of loyalty). Apply these duties to business scenarios involving employees, partners, and corporate officers. 📖 Introduction The agency relati...
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The Agency Relationship – Creation and Authority

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Home › Business Law Mastery › Chapter 9: The Agency Relationship – Creation and Authority Chapter 9: The Agency Relationship – Creation and Authority Agency is a fiduciary relationship where one person acts on behalf of another. 🎯 Learning Objectives Define the agency relationship and distinguish it from other relationships (employer‑employee, independent contractor ). Explain the methods of creating an agency: express agreement, implied authority , ratification , and estoppel ( apparent authority ). Distinguish between actual authority (express and implied) and apparent authority. Analyze landmark cases: Lloyd v. Grace, Smith & Co. (apparent authority), Hely‑Hutchinson v. Brayhead Ltd (implied authority), Watteau v. Fenwick (lingering authority). Apply agency principles to common business scenarios involving employees, officers, and independent contractors. ...
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Strict Liability, Product Liability, and Consumer

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Home › Business Law Mastery › Chapter 8: Strict Liability, Product Liability, and Consumer Protection Chapter 8: Strict Liability, Product Liability, and Consumer Protection Strict liability holds manufacturers liable for defective products regardless of fault. 🎯 Learning Objectives Define strict liability and distinguish it from negligence . Explain the doctrine of strict liability for abnormally dangerous activities . Trace the development of product liability from privity to strict liability in tort. Identify the three types of product defects: manufacturing, design, and failure to warn. Analyze landmark cases: Rylands v. Fletcher , MacPherson v. Buick , Escola v. Coca-Cola , Greenman v. Yuba Power Products . Understand consumer protection statutes and their impact on business. 📖 Introduction Strict liability imposes liability on a defendant...
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