Agency Relationships

Card Set Information

Author:
batkinson
ID:
219099
Filename:
Agency Relationships
Updated:
2013-05-11 15:57:12
Tags:
Terminology
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Description:
General Observations
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  1. Contractual and/or Consensual
    Can be formed by mere consent of the parties with any external formality, it is ordinarily the result of a contractual agreement between parties. SC statue requires all agency agreements to be in writing.
  2. Personal
    Actions within the scope of the authority given by the principal (client), are considered to be as if the principal (client) had acted himself.
  3. Fiduciary Relationship
    Parties have engaged in a mutual exchange of trust and confidence.
  4. Confidential
    Confidentiality extends beyond the termination of the agency relationship.

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