BUS 205 Lecture Notes - Lecture 50: Implied Warranty, Apparent Authority, Fiduciary
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or more, it needs to be in writing. When both parties are merchants and they enter into an oral agreement and one merchant sends a written confirmation of the oral agreement and the other party does not sign within 10 days, the written confirmation becomes the contract. If one party adds an additional term in response and there is no objection to the term, it becomes part of the deal. If two merchants have conflicting terms, they cancel each other out. Express warranty, implied warranty of merchantability, implied warranty of fitness for a particular purpose. Writing (the only one that cannot be disclaimed) Certain situations that you want to have the agency agreement in writing if the subject matter falls within the statute of frauds. All of the ways to terminate a contract you can apply to agencies. If the principal goes bankrupt, the agency is over. Duty of loyalty outside benefits, inappropriate behavior, conflicting interests.
