LAW CH. 27 TERMS

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Author:
lecaly
ID:
112286
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LAW CH. 27 TERMS
Updated:
2011-11-24 14:08:54
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LAW 27 TERMS
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LAW CH. 27 TERMS
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  1. Agency coupled with an interest
    (bk) agency in which agent has financial stake in performance of agency because of having given consideration to principal
  2. Durable power of attorney
    (bk) appointment of agency that survives incapacity of principal
  3. Dissolution
    (bk) termination of corporation's operation except activities needed for liquidation of the corporation
  4. Fiduciary relationship
    (sg) relationship that exists between a principal and agent
  5. Routine instruction
    (sg) principal's order regarding a matter that does not involve an agent's judgment
  6. Indemnification
    (sg) principal's duty to pay an agent for losses suffered by the agent in carrying out the agency
  7. Discretionary instruction
    (sg) principal's order regarding a matter that requires an agent to exercise the agent's best judgement
  8. Accounting
    (sg) Agent's duty to keep a record of the money and property of a principal
  9. Renunciation
    unilateral act of holder giving up rights in the instrument or against a party to it

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