Principal and Agent

Creation of Agency

Express Agency
Implied Agency
Agency by Estoppel
Agency by Holding out
Agency by Necessity
Agency by Ratification
Agency by Statue

Classes of Agents ….. By Authority

Special Agent
General Agent
Universal Agent

Classes of Agents ….. By Performance

Mercantile or Commercial Agent
Factors
Brokers
Commission Agents
Del Credere Agents
Auctioneers
Bankers
Indentors

Personal Liability of Agent

When Contract Expressly Provides
When Agent Signs a Negotiable Instrument in his own Name
When Acting for a Concealed Principal
When Acting for a Principal who can not be Sued
For Breach of Contract
Where Payment made by Mistake or Fraud
Custom makes Agent Personally Liable

Termination of Agency

Performance of Contract
Agreement between Parties
Death of Either Party
Insanity of Either Party
Insolvency of Principal or sometimes Agent
On Dissolution if Either Party is Company
Destruction of Subject Matter
Renunciation by Agent
Revocation by Principal