MATCHING Part VI Matching

question 17

Short Answer

MATCHING
Part VI Matching
Match each statement with the correct term below.a.The duty that requires an agent to act in the principal's affairs only as authorized by the principal and to obey all reasonable instructions.b.The requirement that an agent maintain and provide the principal with a true and complete account of money or other property that the agent receives or expends on behalf of the principal.c.A consensual relationship authorizing one party to act for and on behalf of another party.d.A person authorized to act on another's behalf.e.The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.f.Written, formal appointment of an agent.g.The requirement that an agent use reasonable efforts to give the principal information that is relevant to the affairs entrusted to her.h.Person who agrees to do a particular job for another but who is not subject to the other's control.i.A form of liability without fault in which the principal is held vicariously liable for the agent's unauthorized tort.j.Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.k.A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.l.Corporation's act of confirming a contract that was made by a promoter before the corporation was formed.m.Power that is based upon acts or conduct of the principal which manifests to a third party that the agent has power and upon which the third party justifiably relies.n.A principal that a third party knows exists but does not know who it is.o.The confirmation or affirmance by one person of a prior unauthorized act performed by another who is, or purports to be, his agent.p.Power inferred from words or conduct that a principal manifests to an agent.
-duty to inform

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Definitions:

Wrongful Action

An act or omission that infringes on the rights of others or is contrary to law.

Legal Right

An entitlement or privilege that is protected and enforced by a legal system.

Personal Property

Property that is movable; any property that is not real property; sometimes called personalty or chattel.

Economically Injurious Falsehood

A false statement made about a business or product that causes financial harm, also known as trade libel.