AGENGY/EMPLOYMENT

1. Compare and contrast independent contractors, employees, and agents. Explain, from a legal perspective, why the distinctions between each category are (or may be) important from the perspective of a third-party customer.

2. Explain the differences between actual, apparent and implied authority with respect to agents. Explain the nature of an agent's obligations to their principal. Explain what is meant by the term "fiduciary duty" in the context of agency and provide examples of at least three of those fiduciary duties.

BUSINESS ORGANIZATIONS

3. Compare and contrast each form of partnership that was discussed in class. Additionally, describe and provide examples of the differences between each of the types of Partners discussed with respect to the issue of legal liability.

4. What is meant by a shareholder's limited liability in a corporation? How does a shareholder exercise control over the direction and decisions made in a corporation? What are the duties of a director and officer of a corporation and to whom or what are those duties owed?