Express and implied authority

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Write an analysis in a minimum of 1,050 words in which you include the following:

Analyze and discuss the difference between express, implied, and apparent agency relationships.
Describe when an agent may be liable for tort when acting on behalf of a principal.
Describe when a principal may be liable for tort when an agent is acting on behalf of a principal.
Identify and describe how an agency relationship is terminated.
Cite a minimum of 3 scholarly references.

Format your paper consistent with APA guidelines.

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This is the book that we are using and must be used as one of the references:Formation of an Agency An agency and the resulting authority of an agent can arise in any of the following four ways: express agency, implied agency, apparent agency, and agency by ratification. These types of agencies are discussed in the paragraphs that follow. Express Agency Express agency is the most common form of agency. In an express agency, the agent has the authority to contract or otherwise act on the principal’s behalf, as expressly stated in the agency agreement. Express agency occurs when a principal and an agent expressly agree to enter into an agency agreement with each other. Express agency contracts can be either oral or written unless the Statute of Frauds stipulates that they must be written. express agency An agency that occurs when a principal and an agent expressly agree to enter into an agency agreement with each other. Example In most states, a real estate broker’s contract to sell real estate must be in writing. If a principal and an agent enter into an exclusive agency contract, the principal cannot employ any agent other than the exclusive agent. If the principal does so, the exclusive agent can recover damages from the principal. If an agency is not an exclusive agency, the principal can employ more than one agent to try to accomplish a stated purpose. The following feature describes the creation of a special form of express agency. Contemporary Environment Power of Attorney A power of attorney is one of the most formal types of express agency agreements. It is often used by a principal to give an agent the power to sign legal documents on behalf of the principal. The agent is called an attorney-in-fact even though he or she does not have to be a lawyer. Powers of attorney must be written. Usually, they must also be notarized. There are two kinds of powers of attorney: power of attorney An express agency agreement that is often used to give an agent the power to sign legal documents on behalf of the principal. general power of attorney A power of attorney where a principal confers broad powers on the agent to act in any matters on the principal’s behalf. special power of attorney A power of attorney where a principal confers powers on an agent to act in specified matters on the principal’s behalf. 1. General power of attorney. A general power of attorney confers broad powers on the agent to act in any matters on the principal’s behalf. Example A person who is going on a long trip gives a general power of attorney to his brother to make all decisions on his behalf while he is gone. This general power of attorney includes the power to purchase or sell stocks or real estate, pursue or defend lawsuits, and to make all other relevant decisions. 2. Special power of attorney. A special power of attorney confers limited powers on an agent to act on behalf of a principal. The agent is restricted to perform those powers enumerated by the agreement. Example A person who has her house listed for sale but who is going on a trip gives her sister a special power of attorney to make decisions regarding the selling of her house while she is gone, including accepting offers to sell the house and signing documents and deeds necessary to sell the house. A principal can make a power of attorney a durable power of attorney, which remains effective even though the principal is incapacitated. Implied Agency In many situations, a principal and an agent do not expressly create an agency. Instead, the agency is implied from the conduct of the parties. This type of agency is referred to as an implied agency .