Principals & Agents: Authority, Duties, and Liabilities
Principals and agents refer to a relationship in which the principal grants authority to the agent to act on their behalf, thereby creating fiduciary responsibilities. Such duties involve loyalty, care, and obedience, while liabilities may arise from breaches of these duties or unauthorized actions taken by the agent.
Lesson Videos
Principals & Agents: Authority, Duties, and Liabilities Overview
Introduction to Principals and Agents
Formation of Agency
Terms Related to Principals and Agents
Power of Attorney
Actual and Apparent Authority
Lack of Enforceable Agency Relationship
Duties Owed by an Agent to a Principal
Rights and Remedies for a Principal
Duties Owed by a Principal to an Agent
Rights and Remedies for an Agent
Ratification of an Agreement
Termination of an Agency Relationship
Contractual Liability
Tort Law
Independent Contractors vs. Employees
Principals & Agents: Authority, Duties, and Liabilities Summary
Principals & Agents: Authority, Duties, and Liabilities - Practice Questions
"Examprep.ai helped me pass all 4 CPA exams on the first try. I highly recommend. I especially like the feedback and ratings the software provides so I know where to focus my time."
Daniel H., CPA
"I can't recommend ExamPrep.ai enough. Nick's lessons turned concepts I struggled with into strengths. I was able to pass FAR right before other exams expired!"
Andrew K, CPA
"I just want to say thank you for the great lesson videos. I couldn't stay awake through lectures of another course. After watching all your FAR lessons I was finally able to pass!"
Alyssa M., CPA Candidate
