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Unless otherwise agreed, an agent making a contract with actual or apparent authority on behalf of an unidentified principal is a party to the contract.
Apparent Authority
The appearance or assumption of authority based on the conduct or statements of the principal, leading third parties to believe an agent has authority to act.
Unidentified Principal
A scenario in contract law where the identity of the principal is unknown to the third party at the time of agreement.
Actual Authority
The express or implied legal power given to an agent by a principal to undertake specific actions on the principal's behalf.
- Understand the concept of agency authority and the distinctions between actual, apparent, and ratified authority.
- Recognize the legal consequences of actions taken by agents on behalf of principals.
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Learning Objectives
- Understand the concept of agency authority and the distinctions between actual, apparent, and ratified authority.
- Recognize the legal consequences of actions taken by agents on behalf of principals.
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