MGMT 311- Honors Exam 2 Questions with Answers
Power of Attorney - Answer-special or general - gives an agent express authority (is the best evidence of express authority)
- example: signing spouses name
- general: lots of power
- special: specific
Implied Authority - Answer-is reasonably ...
Power of Attorney - Answer-special or general - gives an agent express authority (is the
best evidence of express authority)
- example: signing spouses name
- general: lots of power
- special: specific
Implied Authority - Answer-is reasonably necessary to carry out express authority, and
can be conferred by custom or inferred from the agent's position
- details that go along with the written contract
Apparent Authority - Answer-Authority that is only apparent, not real. An agent's
apparent authority arises when the principal causes a third party to believe that the
agent has authority, even though she or he does not.
- think of Agency by Estoppel
1. Pattern of Conduct: Courts hold the Principal liable based on their actions - pattern of
conduct over time - not based on an agreement
2. Apparent Authority and Estoppel: the Principal is usually denying the agency
relationship but the court holds the principal liable using the estoppel doctrine
Emergency Powers - Answer-- in an Agency by Operation of Law
- very limited scope
- unforeseen emergency demands action by an agent to protect rights and/or property
of the principal; agent is unable to communicate with the principal; agent has
emergency power
Ratification - Answer-- in an Agency by Ratification the Agent's unauthorized acts are
"ratified"
- principal accepts responsibility for agent's UNauthorized actions
Disclosed Principal - Answer-A principal whose identity is known to a third party at the
time the agent makes a contract with the third party.
- agent signs Principal's name and own, says he is agent
Partially Disclosed Principal - Answer-A principal whose identity is unknown by a third
party, but the third party knows that the agent is or may be acting for a principal at the
time the agent and the third party form a contract.
- do not know who exactly, agent signs his name/title, but not Principal
,Undisclosed Principal - Answer-principal's identity is totally unknown by the 3rd party
and the 3rd party has no knowledge that the agent is acting on the principal's behalf at
the time of the contract
- agent only signs his name
- think doing contract only with agent
Authorized Acts - Answer-1. The principal is obligated to perform the contract
2. The agent's liability depends on:
- disclosed principal: the agent has no contractual liability for the principal's
nonperformance.
- partially disclosed principal: the agent is treated as a party to the contract
- undisclosed principal: the agent is liable but is entitled to indemnification from the
principal
Unauthorized Acts - Answer-principal is not liable but the agent is
- UNLESS the acts are not ratified by principal
Employer's Own Negligence - Answer-Negligent hiring and retention of employees
Employer is Liable for Torts Committed by Employees - Answer-wrongs harming third
parties (civil liability - 3rd party sues Employer for $$)
Doctrine of Respondeat Superior - Answer-the employer (principal) is liable for any
harm caused to a third party by an employee (agent) committed by the employee
(agent) within the course and scope of employment
Doctrine of Respondeat Superior 2 Part Analysis - Answer-1. an employee
2. if the harm is committed within the course and scope of employment
Going and Coming Rule - Answer-employee traveling to and from work is not acting in
course and scope of employment
- going into work and going home from work
Special Errand Exception - Answer-if employee is on a special errand for employer at
time of accident, employer is liable
Detour - Answer-employee is still in the course and scope
- slight personal detour with no negative affect on employer, employee not ignoring they
are at work
Frolic - Answer-employee is outside the course and scope
- disregard for employer's business
Liability for Independent Contractor's Torts: General Rule - Answer-person who hires an
I.C. is not liable if a 3rd party is injured by the acts of the I.C. in performing the contract
- respondeat superior does not apply
, Liability for Independent Contractor's Torts: Exceptions - Answer-1. Right to Control -
right to treat as an employee
2. Inherently Dangerous (or Hazardous) Activities - carry strict liability, both will have
liability
Liability for Agent's Crimes - Answer-if you do the crime, you do the time
- employee/agent
- parking tickets, speeding tickets, etc
Immigration Reform & - Answer-1. Cannot hire, employ, or recruit for a fee an illegal
alien
2. The employer must complete an I-9 for each employee showing that it has verified
that the employee is either a US citizen or is authorized to work in the US
- SSN and drivers license or work visa and passport
3. if the employer violates IRCA, can be subject to both civil and criminal penalties
Civil Violation of IRCA - Answer-First Offense: up to $2,200 per illegal
Second Offense: up to $5,00 per illegal
Subsequent Offenses: up to $11,000 per illegal
Intellectual Property - Answer-the work of the human mind which consists of the
products that result from intellectual and creative processes; personal property
Intellectual Property Information - Answer-the author or inventor of the intellectual
property has exclusive rights to their intellectual properties
Types of Intellectual Properties (all have infringement) - Answer-1. Trademarks
2. Patents
3. Copyrights
4. Trade Secrets
Examples of Intellectual Property - Answer-1. design graphics
2. logo (name)
3. source code
4. art work
5. business processes in a game
6. motif
7. secret recipes
8. menu design
9. themes or ideas
10. etc.
Non-examples of Intellectual Property - Answer-1. ownership of a house
2. vehicle
3. personal items (real property)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Perfectscorer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £10.71. You're not tied to anything after your purchase.
