Asked by Amaya Jones on May 05, 2024
Verified
When must agency agreements be in writing?
Agency Agreements
Legal contracts specifying the terms under which an agent will act on behalf of a principal in business dealings.
Writing Requirement
A legal stipulation that certain contracts must be in written form to be enforceable.
- Acquire knowledge about the legal and procedural conditions necessary for forming agency agreements, including instances requiring written form.
Verified Answer
ZK
Zybrea KnightMay 08, 2024
Final Answer :
First, agency agreements need to be in writing whenever an agreement is reached for an agent to enter into a contract that the statute of frauds requires to be in writing. Second, whenever an agent is given power of attorney, the agreement must be in writing.
Learning Objectives
- Acquire knowledge about the legal and procedural conditions necessary for forming agency agreements, including instances requiring written form.
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