1. BUL 3310 Legal Environment of Business Agency © 2011 Darren A. Prum, MBA, JD

2. BUL 3310 Agency Agency - “the fiduciary relation [that] results from the manifestation of consent by one person to another that the other shall act in his behalf and subject to his control, and consent by the other so to act” (Restatement of Agency 2d) Agency - “the fiduciary relation [that] results from the manifestation of consent by one person to another that the other shall act in his behalf and subject to his control, and consent by the other so to act” (Restatement of Agency 2d) Agent Agent Principal Principal Fiduciary Relationship Fiduciary Relationship © 2011 Darren A. Prum, MBA, JD

3. BUL 3310 Agency Types of Relationships Types of Relationships Employer-Employee Employer-Employee Employer-Independent Contractor Employer-Independent Contractor Determining an Employee’s Status Determining an Employee’s Status © 2011 Darren A. Prum, MBA, JD

4. BUL 3310 Agency Formation Formation Scope of Authority Scope of Authority Actual Actual Apparent Apparent Ratification Ratification © 2011 Darren A. Prum, MBA, JD

5. BUL 3310 Agency Liability for Contracts Liability for Contracts Liability for Torts Liability for Torts © 2011 Darren A. Prum, MBA, JD

6. BUL 3310 Agency Termination Termination Act of the Parties Act of the Parties Operation of Law Operation of Law © 2011 Darren A. Prum, MBA, JD