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The agent liability on contract

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Reference no: EM133436414

The Agent's Liability on a Contract.

An agent's liability on a contract depends upon how much the third party knows about the principal. Choose TWO of the questions below. For each, respond fully in your own words. Be sure that your response reflects your own understanding of the topic.

1. Explain the doctrine of a "fully disclosed principal" Create a hypothetical scenario illustrating a situation in which there is a principal and an agent, and the agent is acting on behalf of a fully disclosed principal. Is an agent liable on a contract that he makes on behalf of a fully disclosed principal? Is the principal?

2. Explain the doctrine of an "unidentified principal" Create a hypothetical scenario illustrating a situation in which there is a principal and an agent, and the agent is acting on behalf of an unidentified principal. Is an agent liable on a contract that he makes on behalf of an unidentified principal? Is the principal?

3. Explain the doctrine of an "undisclosed principal" Create a hypothetical scenario illustrating a situation in which there is a principal and an agent, and the agent is acting on behalf of an undisclosed principal. Is an agent liable on a contract that he makes on behalf of an undisclosed principal? Is the principal?

4. Explain the doctrine of an "unauthorized agent" Create a hypothetical scenario illustrating a situation in which there is a principal and an unauthorized agent. Is an unauthorized agent liable on a contract that he makes? Is the principal?

Reference no: EM133436414

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