by TheBusinessProfessor | Feb 23, 2025 | Agency Law
[cite] [arve url=”https://youtu.be/yiaTeAYoYIE” title=”Duties of a Agent to a Principal” description=”This video explains what are the duties of an Agent to a Principal. ” /] Next Article: Agent Authority to Contract for Business...
by TheBusinessProfessor | Feb 23, 2025 | Agency Law
What is a Best-Interest Contract Exemption?The best-interest contract exemption (BICE) is a rule passed by the Department of Labor which allows fiduciaries to receive payments in ways that were previously prohibited. BICE permitted or exempted transactions that were...
by TheBusinessProfessor | Feb 23, 2025 | Agency Law
What is the Borrowed Servant Rule?A borrowed servant rule is a legal rule which maintains that an employer is responsible for the activities of a borrowed employee or temporary employee. According to this doctrine, if an employer hires temporary employees such as...
by TheBusinessProfessor | Feb 23, 2025 | Agency Law
What is the Master-Servant Rule?The master-servant rule refers to a rule or doctrine whereby an employer is responsible for all the actions of their employees and a party responsible for the actions of its delegates and agents. The master-servant rule is also known as...
by TheBusinessProfessor | Feb 23, 2025 | Agency Law
What is a Purchasing Agent?Purchasing Agents buy machinery, tools, equipment, supplies, parts, or services needed for running an establishment. Raw or semi-finished materials are purchased for the purpose of manufacturing.Who Is a Purchasing Agent?A purchasing agent...
by TheBusinessProfessor | Feb 23, 2025 | Agency Law
What is an agency relationship?An agency relationship is one in which a party acts on behalf of and with the authority of another party. The principal appoints or authorizes the agent to act on her behalf. Responsibility in the Principal for Agent Actions? The agent...
