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Why can an agent not take an opportunity meant for the principal? When is an agent permitted to take such an opportunity? Give an illustration depicting an agent's violation of his or her duty of loyalty.
Contributorily Negligent
A legal doctrine under which an injured party's own negligence contributing to their injury reduces or eliminates their ability to recover damages.
Employer
An individual or organization that hires and pays people to work for them under an expressed or implied contract of employment.
Employee
An individual who provides services to an employer under an expressed or implied contract of hire, for which the employer pays wages or salary.
Fair Labor Standards Act of 1938
United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards.
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