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Contractual or consensual.
Attorney in fact. Power of attorney. When used and needed.
By emergency.
By operation of law by statutory provisions: corporations, driving in
another state, etc.
Estoppel.
Ratification. Once the principal ratifies, she cannot change her mind
Types of agents.
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Disclosed and undisclosed. This issue deals with contracts not torts.
Understanding of indemnification and breach of warranty of authority.
Agents are fiduciaries. If the agent exceeds his authority, either actual
or apparent authority, the principal sues the agent for fiduciary breach.
If the agent never had the authority the third party cannot hold the
principal liable so she sues the agent for breach of warranty of
authority.
Termination of agency.
1. Agreement, principal revokes authority, or agent renounces.
2. Review The Bad Boy Rule.
Partnership Law.
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Fook Rule. All partners and the partnership are liable in contract and
tort.
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The Biggie Smalls Rule. Creditors are not bound by agreements by the
partners.
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The JA Rule. All partners must agree to add other partners. When a
new partner is added, it is a new partnership.
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Lets Hold Hands Rule. Profits are shared the same as losses and both
equally if nothing is stated.
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It files an
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Lets Make a Deal Rule. Make a deal with the executor or trustee in
bankruptcy so the old partnership can continue as a new partnership
without going out of business.
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Throw It In the Circle Rule. Once you give property to the partnership it
can only be used for partnership purpose (capital). Capital is assets
that were not purchased with partnership property.
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The CSI Rule. Unanimous consent of all partners is required when you
Confess a Judgment, Sell the business, or make it Impossible to
carry on the business.
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Court Order.
If a partnership is for a term, a court order can be
obtained to dissolve if as the law provides a partner is a lunatic, the
business can be carried on at a loss or the partners cannot agree.
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Defamation.
crime.
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