Explain and analyze the duties owed by each party in an agent/principal relationship.

Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.

Also, provide a graduate-level response to each of the following questions:

  1. Explain and analyze the duties owed by each party in an agent/principal relationship.
  2. What steps should an organization take to limit apparent authority that it does not intent to bestow on an agent?