Gilbert Law Summary on Agency, Partnership and LLCs

The topics covered in Agency, Partnership, and Limited Liability Companies are rights and liabilities between principal and agent (including agent’s fiduciary duty, principal’s right to indemnification), contractual rights between principal and third persons (including creation of agency relationship, authority of agent, scope of authority, termination of authority, ratification, liability on agents contracts), and tort liability (including respondeat superior, master-servant relationship, scope of employment). Also included are property rights of partner, formation of partnership, relations between partners (including fiduciary duty), authority of partner to bind partnership, dissolution and winding up of partnership. Formation, operation, and dissolution of limited partnerships and limited liability companies, as well as mergers and conversions of these entities, are also covered.