LES 305 Study Guide - Final Guide: Fair Labor Standards Act, Trade Secret
Document Summary
Legal and ethical regulator issues in business les 305. For the exam, we will cover chapter 17 on agency on pages 566-571 covering independent contractors and the different types of authority - express, implied and apparent. For chapter 18, i will not hold you responsible for labor unions. You will be responsible fpor all of chapter 19. You are also responsible for all of chapter 15 on business property. A sales clerk is an agent in a store true. In a master/servant relationship, the principal exercises little control over the agent false (lot of control) Express authority must be in writing false. Agency contract must be evidenced by a record to be valid false. The ability of a clerk in a store to accept payment for goods is an example of implied authority true. Firing an agent does not end apparent authority true (must give public record) Lingering apparent authority results from failure to give notice of termination.
