Reference no: EM131559364

Three distinct reasons for organizing society around laws were “order, fairness, and “predictability.” Pick any of these three goals, and explain how the law of agency promotes that aim. In so doing, you should be explaining the law of agency generally in a way that demonstrates your understanding of the key concepts.

Some topics you might want to address in answering are the following:

A) The common law underpinnings of agency law

B) The “fiduciary duty of loyalty” principals and agents owe to one another

C) The different types and scopes of agencies ( E.g. a general power of attorney vs an agency relationship for a specific purpose, like a real estate transaction)

D) The rules governing the formation (particularly the ways in which an agency relationship can be formed) and /or termination (particularly the unilateral ability of either party to terminate) of an agency relationship.

E) The possibility for principals to be “undisclosed” or “partially disclosed” to third parties.

F) The liability of a principal for the authorized acts of his agent or employee

G) The possibility of liability by a principal, to a third party, arising from apparent (rather than actual) authority.