chapter 2 Law of Agency

BLANK IS KNOWN AS LIMITED AGENCY

SPEACIAL AGENCY

BLANK IS THE RIGHT TO REPRESENT THE PRINCIPAL IN A PARTICULAR TYPE OF TRANSACTION

GENERAL AGENCY

BLANK IS THE AUTHORITY THAT COMES FROM SPECIFIC INSTRUCTIONS EITHER
ORAL OR WRITTEN

EXPRESS AUTHORITY

BLANK IS THE POWER TO ACT FOR THE PRINCIPAL IN ALL TRANSACTIONS

UNIVERSAL AGENCY

BLANK IS WHEN AN AGENY ACTS WITHOUT PRIOR AUTHORIZATION

AGENCY BY RATIFICATION

WHAT TYPE OF RELATIONSHIP DOES THE AGENT AND PRINCIPAL HAVE?

FIDUCIARY RELATIONSHIP WHICH MEANS BASED ON TRUST