The agent liability on contract

Assignment Help Business Economics
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

Questions Cloud

Researched about water cycle and system : What are some major business opportunities for a business to help address aforementioned risks? Why are these considered to be opportunities?
What are common expressions of gender : What are common expressions of gender as they relate to food in your experience? Are these norms universal or are they changing?
Long-term value creation and risk management : To help a prominent investor to focus on sustainability-based investments, they should focus on long-term value creation and risk management
Nurturing behavior of mother rat : How does the nurturing behavior of a mother rat during the first week of a pup's life shape the pup's epigenome, and how might this change with age?
The agent liability on contract : An agent's liability on a contract depends upon how much the third party knows about the principal. Explain the doctrine of an "undisclosed principal"
Describe the key features of the lake winnipeg : Describe the key features of the Lake Winnipeg watershed that make this lake particularly vulnerable to eutrophication.
App-based peer-to-peer sharing technology : What are the ethical challenges that Wells Fargo faces in using app-based peer-to-peer sharing technology?
Eliminating the use of disposable plastics : Discussing and evaluating two companies in reducing/eliminating the use of disposable plastics to be more environmentally friendly using five criteria.
The bid function is maximum amount the consumer : The bid function is the maximum amount the consumer is willing to pay for a house with a specified air quality in order to attain their desired utility.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd