Question

Business Law II Ch. 34 - Liability to Third Parties Professor Shane J. Egan Name Date I. A is a specific form of express authority, usually in writing, granting an agent specific powers. 2. A grants the agent express authority over specifically outlined acts. allows 3. A the agent to conduct all business for the principal. 4. (True/False) Powers of attorney always terminate on the principal's death. 5. The principal must be classified as either: 6. This term is given to acts that are within the scope of the agent's authority 7. This term is given to acts that go beyond the scope of the agent's authority 8. (True False) As a general rule, when an agent commits an unauthorized act, the principal is neither bound to the contract nor liable. 9. The principal/employer can be held _which is liability assigned without fault, for any harm the agent/employee causes while working for the principal. 10. (True/False) A third party injured through the negligence of an employee can sue either the employee or the employer.

Answer 1

1. Power of attorney
2. Special power of attorney
3. General power of attorney
4. False. Durable POA continues after principals incapacitation
5. Disclosed principal, Partially disclosed principal and unidentified principal
6. Authorized acts
7. Unauthorized acts
8. True
9. Vicarious liability
10. True
11. Sorry don't know
12. True