LAW 3220 CLEMSON EXAM 4 FINAL PAPER
2026 SOLVED QUESTIONS GRADED APLUS
◉ Parties in an Agency.
Answer: -The principal creates authority in an agent
-The agent receives authority and carries out the principal's
instructions
-Third parties make contract or are involved in torts with the agents
◉ Disclosed Principal.
Answer: Identity of principal is known by the third party at time of
making of contract with agent
◉ Undisclosed Principal.
Answer: Identity of principal is unknown to third party, which can
be fine. Agent does the work and will be indemnified by principal if
agent acts within scope of authority
◉ Universal agents.
Answer: Do all acts that can be legally delegated, i.e. General Power
Attorney
, ◉ General agents.
Answer: Execute all transactions in connection with a business, i.e.
top level managers
◉ Special agents.
Answer: Execute a specific transaction or series of transactions, i.e. a
real estate agent
◉ Agency coupled with an interest.
Answer: Agent has paid for the right to have authority for a business
◉ Gratuitous agent.
Answer: No payment is made to the agent, i.e. favor for a volunteer
◉ Creating an Agency: By agreement of the parties.
Answer: May be oral or written. Legal document called a power of
attorney establishes agency and creates an attorney-in-fact
◉ Creating an Agency: Implied or Express ratification by the
Principal.
Answer: A principal accepts responsibility for acts of an agent going
beyond his/ her authority (ratification)
2026 SOLVED QUESTIONS GRADED APLUS
◉ Parties in an Agency.
Answer: -The principal creates authority in an agent
-The agent receives authority and carries out the principal's
instructions
-Third parties make contract or are involved in torts with the agents
◉ Disclosed Principal.
Answer: Identity of principal is known by the third party at time of
making of contract with agent
◉ Undisclosed Principal.
Answer: Identity of principal is unknown to third party, which can
be fine. Agent does the work and will be indemnified by principal if
agent acts within scope of authority
◉ Universal agents.
Answer: Do all acts that can be legally delegated, i.e. General Power
Attorney
, ◉ General agents.
Answer: Execute all transactions in connection with a business, i.e.
top level managers
◉ Special agents.
Answer: Execute a specific transaction or series of transactions, i.e. a
real estate agent
◉ Agency coupled with an interest.
Answer: Agent has paid for the right to have authority for a business
◉ Gratuitous agent.
Answer: No payment is made to the agent, i.e. favor for a volunteer
◉ Creating an Agency: By agreement of the parties.
Answer: May be oral or written. Legal document called a power of
attorney establishes agency and creates an attorney-in-fact
◉ Creating an Agency: Implied or Express ratification by the
Principal.
Answer: A principal accepts responsibility for acts of an agent going
beyond his/ her authority (ratification)
