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Ch 20: The Role of Agency in Business Law

About This Chapter

Watch online video lessons and learn about agency relationships, contractual liability and tort liability. These lessons are just a portion of course materials on business law.

Agency - Chapter Summary and Learning Objectives

Professional instructors can show you the different types of agencies and explain the duties of agents and principals. You'll get details on liabilities associated with agencies and examine actual and apparent authority. You'll also get definitions of key terms associated with this topic. By the end of this chapter you should be familiar with:

  • The agency relationship
  • Issues and concerns with agency relationships
  • Definition of tort liability
  • Duties and contractual liabilities

Video Objectives
Agency Relationship: Definition, Principles and Problems Get the definition of agency. Learn about the different types of agency, including implied and apparent. Find out who is involved in an agency relationship.
Contractual Liability & Authority of a Principal Examine actual versus apparent authority. Define expressed and implied authority. Get info on authorized and unauthorized acts.
Contractual Liability of an Agent Find out how liability is imposed on an agent when authority exists.
Tort Liability in Agency Relationships: Definition & Law See actual cases of tort liability in agency relationships. Learn about its importance in business law.

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