Management and Organizational Studies 2275A/B Lecture Notes - Lecture 10: Apparent Authority, Limited Partnership

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Waiver must be specific to the circumstances that clearly cover what it is you"re asking people not to sue for. Then you have to give time for them to read it and understand it, and then time to sign it. Waivers are not worthless, but also not easy. But, if they"re really good and really clear that people voluntarily agreed to assume the risks and understood them, then its enforceable. Cant carry on business unless organized in one of these three forms. Corporations, unlike the others are separate legal entities. Example of agency relationship: sports and entertainment agents. If you understand agency, then you understand partnerships. Agent asks on behalf of the principle. Result is a binding contract between the principle and the third party. If i act as her agent, then i enter into contract with him in my capacity as an agent. I go to bank and say to manager, id like 1m loan for my business.