Asked by
Tamara Custer
on Nov 30, 2024Verified
An agent for an unidentified principal is liable on the contract to the third party no matter whether the particular transaction is authorized or not.
Unidentified Principal
A party in a transaction whose identity is not disclosed or known to the other parties involved.
Liable
Being legally responsible for something, especially in the context of debts or wrongful acts.
Transaction
A business deal or exchange between two or more parties, involving the transfer of goods, services, or funds.
- Familiarize oneself with the concept of agency authority, recognizing the differences among actual, apparent, and ratified authority.
- Discern the legal impacts of actions taken by agents representing principals.
Verified Answer
TF
Learning Objectives
- Familiarize oneself with the concept of agency authority, recognizing the differences among actual, apparent, and ratified authority.
- Discern the legal impacts of actions taken by agents representing principals.