| A | B |
|---|
| repayment when an agent is required to spend his/her own money for the principal's benefits. | reimbursement |
| legal terms no longer used in everday language. A person has the right to control the conduct of another who is performing a task for that person. | master and servant |
| describes a relationship in which on person represents another person. | agency |
| represents another person in some sort of business transaction with another party | agent |
| the person who is being representted by another person in some sort of business transaction | principal |
| a person who represents a person without being paid for it | gratuitous agent |
| relationship that is based on trust that exists between the agent and principal | fiduciary |
| an agent who is employed to accomplish a specific purpose | special agent |
| a person who is hired to perform a task for another person, but is not under the other person's control. | independent contractor |
| occurs when benefits from an unauthorized act are accepted with full knowledge of the facts. | ratification |
| an agent lawfully appointed by another agent | subagent |
| includes all the order, commance, or directions prinicpal states to an agent when the agency relationship is first created. | express authority |
| agent must comply with all reasonable orders and instructions within the scope of the agency agreement | obedience |
| faithfulness or acting in a party's best interest at all times | loyalty |
| a person who chooses to have someong perform a task on his or her behalf but who has not control over the way the task is carried out. | proprietor |
| laws that control the work that children are permitted to do. | child labor laws |
| the party who does the work. | employee |
| either party may terminate employer-employee relationship at any time | employment at will |
| Provides employees with grounds for legal action againse employers who have treated them unfairly | unjust dismissal |
| usually involves an oral agreement that would ordinarily be covered by employment at will had the employer not said or done something that implies otherwise | implied contract |
| the party who pays another party for work | employer |
| sets up a series of steps employees must take to appeal an employer's decision | grievance procedure |
| contract negotiated by employer and representatives of the labor union | collective bargaining agreement |
| exists when an employer pays an employee to do work under the employer's control and supervision | employment |
| a promise that the employer and the employee will be fair in their dealings with each other | implied covenant |
| a statement that regardless of provisions or policies in an employee handbook and regardless of any oral promises to the contrary, and employment at will situation still exists between the employer and its employee | disclaimer |
| inside information on a firm's processes, products, or inventions | trade secret |
