Seaport BUS-C110 chapter 14 and 15 discussions

Assignment: Duties between Agent and Principal -Judge Learned Hand, a famous early-twentieth-century jurist (1872–1961), said, “The fiduciary duty is not the ordinary morals of the marketplace.”

Question: How does the fiduciary duty differ from “the ordinary morals of the marketplace”? Why does the law impose a fiduciary duty on the agent? Post your response.

Chapter 15

Assignment: Principal’s Contract Liability - 1. Could express authority be established by silence on the part of the principal?
2. Why is the concept of implied authority very important in business situations? Post your response.

InChapter 14 "Relationships between Principal and Agent" we considered the relationships between agent and principal. Now we turn to relationships between third parties and the principal or agent. When the agent makes a contract for his principal or commits a tort in the course of his work, is the principal liable? What is the responsibility of the agent for torts committed and contracts entered into on behalf of his principal? How may the relationship be terminated so that the principal or agent will no longer have responsibility toward or liability for the acts of the other? These are the questions addressed in this chapter.