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LAW OF AGENCY - Coggle Diagram

- - - - The act or contract must be unauthorized by the principal
      - the unauthorized act must be recognized by law
      - The agent expressly act as an agent for the principal
      - The agent must have principal when the contract is made
      - The principal must have contractual capacity at the time when contract is made and at the time of ratification
      - Principal must have full knowledge of all material facts at the time of ratification
      - The principal must ratify the whole act or contract
      - The ratification must made within a reasonable time
      - The ratification must not injure a 3rd party
  - - - conduct of the parties
      - custom and usage of trade
      - act incidental to carrying out the agent's duties
  - - - Impossible to get principal's instructions
      - The agent's action is necessary in the circumstance to prevent loss to the principal
      - Agent acted good faith
  - - - A principal creates the appearance of an agency that in actuality does not exist
      - The other party to contract believe that egent has authority to contract
      - The principal is estopped from denying the agency relationship and is bound by the contract