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Business Law Final Study 3

Teacher: Julie Nordin - Business Law
Name ______________________
The range of acts authorized by the principal.
The person who authorizes another to enter into legal relationships on his or her behalf.
The principal's approval of a previously unauthorized act or an act outside the agent's scope of authority.
Authority created when a principal leads the third party to reasonably believe that a particular person has agency authority.
A bailment in which only one of the parties benefit.
The bailee will be liable if negligent in some way.
A bailment formed when a bailor leaves personal property with a hotelkeeper or a common carrier.
The owner of a property blocks a tenant from possession of all the real property.
When the tenant of a property leases all of the property to a third person for a period of time that is less than the remaining on the lease, or leases part of the property to a third person for part or all of the term remaining in the lease.
Agency in which the agent receives no consideration and there is no contract.
Any writing that appoints someone as an agent.
The person receiving possession of realty in a lease.
The person conveying possession of realty in a lease.
A bailment in which consideration is given and received by both the bailor and bailee.
The bailee will be strictly liable for any damage, loss or injury to the goods.
The power to do anything that is reasonably necessary or customary to carry out the duties expressly authorized.
An agreement in which one party receives temporary possession of another's real property in exchange for rent.
A relationship between two parties that allows one of the parties to act so as to legally bind the other.
Written or oral direct communication of authority by the principal or agent.
The bailee must not ignore, waste or destroy the bailed property.
The party authorized by the principal to act on his or her behalf.