Podcast
Questions and Answers
In agency relationships, who is an agent?
In agency relationships, who is an agent?
- The third party
- A person with authority to establish legal relationships on behalf of the principal (correct)
- A person with authority to establish legal relationships on behalf of the third party
- The principal
What is the legal nature of a Power of Attorney in the creation of agency?
What is the legal nature of a Power of Attorney in the creation of agency?
- It is an example of implied authority
- It creates actual authority through written words
- It is a formal way of appointing an agent by deed (correct)
- It grants the agent apparent authority
Which type of authority arises from occupation in the creation of agency?
Which type of authority arises from occupation in the creation of agency?
- Actual authority
- Apparent authority
- Implied authority (correct)
- Express authority
What happens when an agent acts within their authority in agency relationships?
What happens when an agent acts within their authority in agency relationships?
What type of authority is implied by taking into account the overall circumstances of the situation?
What type of authority is implied by taking into account the overall circumstances of the situation?
Which legal concept involves a situation where an agent doesn't have actual authority but appears to have it due to the principal's conduct?
Which legal concept involves a situation where an agent doesn't have actual authority but appears to have it due to the principal's conduct?
What makes a Power of Attorney a formal way of appointing an agent?
What makes a Power of Attorney a formal way of appointing an agent?
In which situation can apparent authority be effectively applied?
In which situation can apparent authority be effectively applied?
What approach is used to dispel the application of apparent authority in different situations?
What approach is used to dispel the application of apparent authority in different situations?
What condition must be met for ratification of an unauthorized contract to be valid?
What condition must be met for ratification of an unauthorized contract to be valid?
In the case of Freeman & Lockyer v Buckhurst Park Properties, who may have apparent authority based on the text?
In the case of Freeman & Lockyer v Buckhurst Park Properties, who may have apparent authority based on the text?
What action does ratification involve according to the text?
What action does ratification involve according to the text?
What induces a third party to enter into a contract based on apparent authority?
What induces a third party to enter into a contract based on apparent authority?
What must the principal possess for ratification of an unauthorized contract?
What must the principal possess for ratification of an unauthorized contract?
