Informal 2b

Law And My Career

Joseph Pianta

Business Law 1010 (05)

Murray Horowitz

Date Submitted: October 28, 2014

Fiduciary Duty- page 425

Fiduciary duty is the duty that the employee has to act ina way that is beneficial for the employer, the employee must put the beliefs and intentions of the employer first. It does not matter if the employee does not have a high skill level or experience, the employee is

still responsible for acting with the best intentions of the employer. For instance, if an employee of a used car dealership is ordered by the employee to purchase cars for the dealership, that employee cannot purchase a car for themselves, the employee must first have the

intentions and beliefs of the employer first before they consider the benfits of themselves. The fiduciary duty does not apply to all relationships in bussiness if an employee is acting on behalf of the company, the employee can work out the best deal for the company and

themselves even if it is at the expense of the customer.

Agents' Liability to Third Parties in Contract- page 422

When a agreement is made by an employee of a company and a third party, the company that employes that employee is now in a contract with the third party. Although the employee is the one that established the agreement the employee holds no liability if the third

party knew that they were dealing with an employee from the company. when signing the contract the employee must sign in a way that shows the third party that the contract is not between them and the employee, but them and the corporation or the person the employee is

representing. There are two contracts in a situation like this, the first contract is between the corporation or employer and the employee, the second is between the corporationor employer and the third party who is involved in the deal. Once the employee signs on behalf of

the corporation or employer the contract is final even if the employer disagrees with the...