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Chapter 4

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  1. An agents employer is called
    Principal
  2. Special Agent
    authorized by the emplyer to perform a single act.
  3. General Agent
    has the principals authority to act for him or her on a continuing basis, but with authority limited to a specific trade or business
  4. Universal Agent
    authorized to act for and represent the principal in all matters, without limitation. This agency is generally authorized by a power of attorney.
Author
lacyelliott
ID
149929
Card Set
Chapter 4
Description
Authorized Relationships: Duties and Disclosures
Updated
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