Business Law and the Legal Environment: "Chapter 39: Liability of Principal and Agent; Termination of Agency"

As you read this chapter, consider why contracts are important and how they work. Pay close attention to the following topics: liability in contract, principal criminal liability, and how agency relationships are terminated. By the end of this reading, you will be able to name the principal's liability in contracts, torts, and criminal law and the agent's personal liability in tort and contract, and how agency relationships are terminated. The relevance of legal issues presented in this section is integrally connected with business finance and how relationships are conducted in the business world.