Chapter 5 Agency.pptVIP

Chapter Five Agency Law Loyalty Do not compete with the principal Avoid existing or potential conflict of interest Not further the interests of any third party in his or her dealings Confidential information Exercises 1. What is express authority and implied authority? 2. What are the duties of the agent to the principal? 3. What is agency coupled with interest? 4. Charles gave Halston authority to sell several household items for her for $175 in a garage sale. Halston sold the items for $200 and kept the additional %25 for herself. May Charles recover the $25? 5. What are the five types of a