MBA 530 Week Four Assignment
Published on Oct 04, 2021
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New Century Financial Services Inc. v. Dennegar
Curt A. Rodriguez
Cambridge College
MBA530W-Legal and Ethical Dimensions of-01
Instructed by: Dr. William J. Aquilino
October 2, 2021
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The current consensus on agency law relies heavily on the principles of tort and contract law which establishes a foundation of the “principles liability of their agent's contracts and torts” (Dalley, P. 2011). In today’s modern economy not a day goes by where some interaction with an agent occurs. An example is when you purchase goods, you pay for the service, and go about your business, you don’t worry if the actual sales took place because of the mechanisms we have incorporated in the business transactional processes. Audit trails of the purchase can be found in your bank or credit card statements, the receipt you had either printed or emailed and the establishment themselves would have a record of the transaction.
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Agency Law doctrine as it is best understood allows one individual (the principal) through an independent actor (agent) to take legally “salient actions” in relationship to third parties ( DeMott, D. 2014). In the case of New Century v. Dennegar, in 2001 an AT&T credit card was issued to one Lee Dennegar, for which monthly statements were sent to Mr. Dennegar’s home.
Mark Knutsen who lived with Mr. Dennegar from 1999-2000 was authorized by Mr. Dennagar to “manage the household affairs”. In legal terms, Mr. Dennager was the principal and Mr. Knutsen was the agent (Fisher, J.A.D.)
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Mr. Knutsen passed away in 2003 and had left a balance on the credit card for which Mr. Dennegar claimed he was not aware of in the amount of $14,752.93 and therefore was not required to pay it. Because of Agency Law, the ruling found in favor of the plaintiff, New Century Finance Inc. “Because the evidence supported the trial judges determination that defendant either expressly applied for the card, or authorized his roommate-to whom he ceded authority over his finances-to apply for and use the card we affirm the judgment entered in plaintiffs favor” (Fisher J.A.D.)
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References
Dalley, P. (2012) A Theory of Agency Law. University of Pittsburgh Law Review. Vol 72:495
Retrieved from https://eds.a.ebscohost.com/eds/pdfviewer/pdfviewer?vid=2&sid=3fb72544-3ee5...
DeMott, D. (2014) The Contours and Composition of Agency Doctrine: Perspectives From History and Theory on Inherent Agency Power. University of Illinois Law Review Vol. 2014
Retrieved from https://eds.a.ebscohost.com/eds/pdfviewer/pdfviewer?vid=4&sid=3fb72544-3ee5...
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References continued
Fisher, J.A.D. New Century Financial Services Inc. v. Dennager. Retrieved from https://caselaw.findlaw.com/nj-superior-court-appellate-division/1263011.ht...
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