Scope of Agent's Authority

The video tutorial explains the concept of an agent's authority in the context of agency relationships. It covers the different types of authority an agent can have: actual authority, which includes both expressed and implied authority, and apparent authority. The tutorial discusses how these authorities are derived, the responsibilities of the principal, and the implications for third parties. It also introduces the fairness doctrine of estoppel, which can hold a principal accountable for an agent's actions under certain conditions.

What is implied authority and how does it differ from actual authority?

Define apparent authority and its implications for third parties.

Summarize the different types of authority an agent can have.