Study guide for exam 3

Topics: Contract, Employment, Equal Employment Opportunity Commission Pages: 10 (3836 words) Published: April 23, 2014
agency-relationship that exists between a person identified as a principal and another by virtue of which the latter may make contracts with third persons on behalf of the principal. (Parties—principal, agent, third person) agent-person or firm who is authorized by the principal or by operation of law to make contracts with third persons on behalf of the principal. apparent authority-appearance of authority created by the principal’ words or conduct. attorney in fact-agent authorized to act for another under a power of attorney. customary authority-authority of an agent to do any act that, according to the custom of the community, usually accompanies the transaction for which the agent is authorized to act. express authorization-authorization of an agent to perform a certain act. general agent-agent authorized by the principal to transact all affairs in connection with a particular type of business or trade or to transact all business at a certain place. incidental authority-authority of an agent that is reasonably necessary to execute express authority. independent contractor-contractor who undertakes to perform a specified task according to the terms of a contract but over whom the other contracting party has no control except as provided for by the contract. interest in the authority-form of agency in which an agent has been given or paid for the right to exercise authority. interest in the subject matter-form of agency in which an agent is given an interest in the property with which that agent is dealing. power of attorney-written authorization to an agent by the principal. principal-person or firm who employs an agent; person who, with respect to a surety, is primarily liable to the third person or creditor; property held in trust. special agent-agent authorized to transact a specific transaction or to do a specific act. universal agent-agent authorized by the principal to do all acts that can lawfully be delegated to a representative.

The agent’s renunciation of the agency does not automatically terminate by operation of law. The other answers listed do terminate an agency respondeat superiordoctrine that the principal or employer is vicariously liable for the unauthorized torts committed by an agent or employee while acting within the scope of the agency or the course of the employment, respectively. contracting agentagent with authority to make contracts; person with whom the buyer deals. disclosed principalprincipal whose identity is made known by the agent as well as the fact that the agent is acting on the principal’s behalf. partially disclosed principalprincipal whose existence is made known but whose identity is not. soliciting agentsalesperson.

undisclosed principalprincipal on whose behalf an agent acts without disclosing to the third person the fact of agency or the identity of the principal. vicarious liabilityimposing liability for the fault of another. economic strikersunion strikers trying to enforce bargaining demands when an impasse has been reached in the negotiation process for a collective bargaining agreement. employment–at–will doctrinedoctrine in which the employer has historically been allowed to terminate the employment contract at any time for any reason or for no reason. mass picketingillegal tactic of employees massing together in great numbers to effectively shut down entrances of the employer’s facility. primary picketinglegal presentations in front of a business notifying the public of a labor dispute. right–to–work lawslaws restricting unions and employees from negotiating clauses in their collective bargaining agreements that make union membership compulsory. secondary picketingpicketing an employer with which a union has no dispute to persuade the employer to stop doing business with a party to the dispute; generally illegal under the NLRA. shop rightright of an employer to use in business without charge an invention discovered by an employee during...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Study Guide Exam 3 Research Paper
  • Exam 3 Study Guide Essay
  • Essay on Exam 3 Study Guide
  • Essay about Exam 3 Study Guide
  • Exam 3 Study Guide Research Paper
  • Study guide Essay
  • Exam 3 Study Guide Essay
  • Study guide exam 3 Essay

Become a StudyMode Member

Sign Up - It's Free