BUSI 301 Liberty University -BUSI 301: Agency Employment well answered

BUSI 301 Liberty University -BUSI 301: Agency Employment well answeredAgency - correct answer a legal relationship in which the parties agree, in some form, that one party will act as an agent for another party, called the principal, subject to the control of the principal (T/F) Agency law generally exists at the federal statutory level and is based on the Restatements (Second) of Agency. - correct answer False The law of agency often overlays and interacts with other areas of the law, especially: - correct answer -contracts -torts -employment ____ ____ has some source of authority to represent the employer - correct answer Employee agent -Not considered an employee -Has no legal protections of employees such as minimum wage and overtime laws -Principal generally has no liability for actions and omissions of an independent contractor agent - correct answer Independent contractor agent (T/F) Whether an agent is classified as an employee or an independent contractor is determined based on a written operating agreement. - correct answer False Employer typically sets: - correct answer -work hours -salary -working conditions and responsibilities