Agency Law – Episode 2: Authority of Agency
Organized: The Business Law Breakdown · Seth C. Oranburg
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Show Notes
In this episode, Professor Seth C. Oranburg delves into the critical concept of authority in agency law. He carefully distinguishes between actual authority—both express and implied—and apparent authority, which is defined by the reasonable beliefs of third parties based on a principal’s conduct. Through clear examples and key quotations from the Restatement (Third) of Agency, Professor Seth C. Oranburg demonstrates how these forms of authority can legally bind a principal and explores the potential risks businesses face when authority is not clearly defined. Tune in to deepen your understanding of managing authority and mitigating legal and financial liabilities in complex agency relationships.