CPA Exam Lab
All patterns
Business law

The Agency Authority

Trace the authority to its source: the principal's words to the agent make it actual, the principal's words to the third party make it apparent.

How the exam words it

The playbook

  1. 1Split authority by audience: actual authority (express or implied) flows from the principal to the agent, while apparent authority flows from the principal's manifestations to the third party.
  2. 2Even without authority a principal can ratify by accepting the benefits with knowledge of the material facts, which binds the entire contract.
  3. 3Contract liability follows disclosure: a disclosed principal is bound and the agent is not, but an undisclosed or partially disclosed principal and the agent can both be liable.
  4. 4Tort liability under respondeat superior attaches when an employee acts within the scope of employment, but generally not for an independent contractor.

The trap

Finding apparent authority from what the agent said. Apparent authority comes only from the principal's manifestations to the third party, never from the agent's own claims.

How the exam varies it

The same pattern, re-skinned along these axes:

Actual versus apparent authority versus ratificationContract liability (disclosure) versus tort liability (respondeat superior)Employee versus independent contractor

Drill this pattern

8 questions of The Agency Authority from across the AUD topics. Clear it by getting 5 right with a streak of 3.

Shows up in 1 REG topic