Wa State Law, Chapters 17, 18, 19, 22, 26, 28, And 30 Exam Review Questions And Answers, Verified.| Latest Update 2024/25|

WA STATE LAW, CHAPTERS 17, 18, 19, 22, 26, 28, AND 30 EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED. Agency law is concerned with your __________for the _______ of others and their _____________ to you. - -responsibility, actions, obligations To create an agency relationship, there must be: A ______________ and An _______________ Who _________ consent that the __________ will act on behalf of the _________ Be subject to the ______________'s control thereby creating a ___________ relationship - -principal agent mutually, agent, principal principal fiduciary Principal - -the person for whom an agent is acting Agent - -Acts on behalf of the principal To establish consent, the principal must ask the agent to _____ ____________, and the agent must ___________. - -do something agree Fiduciary relationship - -One of trust in which a trustee acts for the benefit of the beneficiary before his own Outside benefits: An agent may not receive _______ unless the principal knows and approves - - profits confidential information: Agents can neither __________ nor use for their own _________ any _____________ information - -disclose, benefit, confidential Competition with the principal: Agents are not allowed to _________ with their principal in any matter within the scope of _________ _____________. - -compete agency business Secretly dealing with the principal: If a principal hires an agent to arrange a ___________, the agent may not become a _________to it without the principal's permission - -transaction, party Appropriate Behavior: An agent may not engage in _____________ behavior that reflects _____ on the principal. This rule applies even to _______-_________ conduct - -inappropriate, badly off-duty Duty to obey instructions - -An agent must obey their principal's instructions unless the principal directs her to behave illegally or unethically Duty of care - -An agent has a duty to act with reasonable care Duty to Provide Information - -An agent has a duty to provide the principal with all info in their possession that they have reason to believe the principal wants to know A principal has 3 potential remedies when an agent breaches her duty: 1. Damages: The Principal can ________ from the agent any _________ the ________ has caused 2. Profits: If an agent _________ the duty of _______ he must turn over to the principal any ___________. 3. Recission: If the agent has violated her duty of loyalty, th