BUSINESS LAW

Briefly discuss agency, specifically the pros and cons of agency and one of the following topics:

the differences between a principal-agent and employer-employee relationship,

the various types of agent authority, or

the types of agency creation and termination, etc.

Please respond to attached thread and expand or react to a classmate’s post.

THIS IS CLASSMATE’S DISCISSON WRITING
RESPOND HER WRITING
Briefly discuss agency, specifically the pros and cons of agency and one
of the following topics:
The concept of agency within a company, as an employer-employee
relationship, is so helpful as an Office Admin/Executive Assistant. For
example: I have been given limited agency from my boss’s oral
permission with our company bank so that I can do parts of my job that
require certain levels of authorization for our company: mainly
electronic Accounts Payable ACH payments.
If there is ever an issue with ACH payments or a stop check- I have been
given authority to speak with the bank about it even though I am not the
level of a “cosigner” to the bank account (nor is My name on it!).
Without this level of permission- every banking detail of my job each
week would have to go through the VP (whenever he has time to get to
it). What a waste of time for the company to have the VP doing “admin”
work!
I do not sign his name on anything, but am able to save the company
money and do my job because of the expressed permissions of agency
granted to me (my predicessor did not have these permissions, so I have
achieved much in my little position).
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the differences between a principal-agent and employer-employee
relationship,
the various types of agent authority, or
the types of agency creation and termination, etc.