Agent Authority to Contract for Principal

The video tutorial explains the concept of authority in business, focusing on three types: actual, implied, and apparent authority. Actual authority is explicitly granted to employees through contracts. Implied authority arises from the employee's role or past dealings, while apparent authority is based on the perception of third parties. The video provides examples and scenarios to illustrate these concepts, emphasizing the importance of understanding authority in business transactions.

Provide an example of how past dealings can imply authority for an employee.

What are the three types of authority that can bind a business to agreements made by its employees or agents?