CDS schiffin Hardin Lecture notes
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faduciary duty of adgency
- 1. loyalty-loyality to principal
- 2. duty of care-normal levels of knowledge
- 3. obedience - adgent must do what principal wants unless illegal
- 4.duty of notification - adgent has to pass on any information
individual is the business. if you earn business money, that money would be on your personal tax.
business is the individual
your employees are your adgent.
have at least two people
the partners own the partnership.
- general partner is an agent for all purposes
- employees are adgents for limited purposes
any income is personal income
no liability protection
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