Introduction
ü Agency=Principal
and Agent.
ü Agency is the
most common and most important legal relationship.
ü Understanding
agency is crucial to understanding the legal environment of business.
ü Principals use
agents to be able to conduct multiple business operations simultaneously in
various locations.
ü The principal
has the right to control the agent in matters entrusted to the agent.
Agency
Relationships
ü Agency is a
“fiduciary” relationship based on trust and confidence.
ü Distinguish
Employee vs. Independent Contractor
Relationships.
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