Explore the legal terms and concepts related to Liability of Principal for Agent's Contracts. Click on any term below to learn more about its definition and applications.
When is an agent liable to a third party for an agreement they entered into on behalf of their principal?
Generally, a principal is solely liable for any contracts entered into by an authorized agent. Howev...
How can a principal ratify an agreement that their agent made without authority to do so?
Ratification occurs when a principal (1) has knowledge of all material facts regarding the contract,...
When does an agent have apparent authority to enter into an agreement?
An agent has apparent authority from a principal where (1) the principal cloaked the agent with the...
When does an agent have actual implied authority to enter into an agreement?
An agent has actual implied authority where the principal, through conduct or circumstance, gives th...
How can actual express authority be revoked?
Revocation of actual express authority occurs by (1) a unilateral act by either the principal or the...
When does an agent have actual express authority to enter into an agreement?
An agent has actual express authority where the principal uses words (written or orally) to express...
When is a principal liable for contracts created by their agent?
A principal is liable for its agent's contracts only where the principal authorized the agent to ent...
