BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Agency by estoppel
|
|
|
Independent contracting
|
|
|
Negligent hiring
|
|
|
Ratification
|
Detailed explanation-1: -Agency by estoppel arises when A makes a representation to a third party, whether by words or conduct, that B is his agent, and subsequently that third party deals with B as A’s agent in reliance on such representation.
Detailed explanation-2: -When one party delegates some authority to another party whereby the latter performs his actions in a more or less independent fashion, on behalf of the first party, the relationship between them is called an agency. Agency can be express or implied.
Detailed explanation-3: -Agency by Necessity Example For example, if an individual becomes suddenly ill and is incapacitated to the extent of being unable to make decisions, then a family member or lawyer can be appointed to make decisions on behalf of the individual through agency by necessity.