Term
Agency relationships usually involve..
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Definition
1. Employer-Employee
2. Employer-Independent Contractor |
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Term
| What is the difference between Employees and Independent Contractors? |
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Definition
Employees are hired for a process and an outcome.
Independent Contractors are hired for an outcome. |
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Definition
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Term
| Example of Independent Contractor |
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Definition
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Term
According to reviewing courts, some of the key factors that make someone an employee include...
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Definition
1. Control
2. Type of Work
3. Supervision
4. Tools
5. Length of Performance
6. Method of Payment |
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Term
5 Types of Creation of the Agency Relationship
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Definition
1. By Agreement
2. By Ratification
3. By Estoppel
4. By Necessity
5. By Operation of Law |
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Term
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Definition
| The hiring or appointment process |
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Term
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Definition
| A later approved act that was originally unauthorized |
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Term
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Definition
*Due to the principals "cloaking" the agent in more authority than the agent has.
*Involves the reasonable reliance on the agent's authority. |
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Term
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Definition
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Term
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Definition
| Spouses can bind each other in teh absence of the other. |
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Term
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Definition
| If John told Georgia to take care of things while he was out of town. I ask for raise and Georgia promises it to me. Georgia does not have the authority. |
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Definition
| If neighbors house in fire and you take out furniture and put in storage unit. Neighbor is responsible for paying back for storage unit. |
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Term
| Example of Operation of Law |
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Definition
| If im out of town, my husband has right to all my money. |
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Term
Types of Authority an Agent has...
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Definition
1. Express Authority
2. Implied Authority
3. Apparent Authority |
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Term
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Definition
*Often contractually defined
*Dosnt have to be in writing |
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Term
Example of Express Authority
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Definition
*Employment Contract
*Power of Attorney |
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Term
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Definition
*Often determined by custom
*What is necessary to carry out the express authority? |
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