(BQ) Part 2 book "Business law - An the legal environment" has contents: Relationship of principal and agent, relationship with third parties, formation and internal relations of general partnerships, environmental law, international business law, consumer protection, interests in real property,.and other contents. | PART VI AGENCY CHAPTER 28 Relationship of Principal and Agent 524 CHAPTER 29 Relationship with Third Parties 544 Copyright 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Relationship of Principal and Agent CHAPTER 28 Practically all of the world’s business involves agents and in most important transactions, an agent on each side. Warren Seavey Handbook on the Law of Agency CHAPTER OUTCOMES After reading and studying this chapter, you should be able to: 1. Distinguish among the following relationships: (a) agency, (b) employment, and (c) independent contractor. 2. Explain the requirements for creating an agency relationship. 3. List and explain the duties owed by an agent to her principal. 4. List and explain the duties owed by a principal to his agent. 5. Identify the ways in which an agency relationship may be terminated. y using agents, one person (the principal) may enter into any number of business transactions as though he had carried them out personally, thus multiplying and expanding his business activities. The law of agency, like the law of contracts, is basic to almost every other branch of business law. Practically every type of contract or business transaction can be created or conducted through an agent. Therefore, the place and importance of agency in the practical conduct and operation of business cannot be overemphasized, particularly in the case of partnerships, corporations, and other business associations. Partnership is founded on the agency of the partners. Each partner is an agent of the partnership and as such has the authority to .
