Asked by
Taylor Williams
on Nov 28, 2024
Verified
When an agent, acting within the scope of his or her authority, contracts with a third party, in most states, the agent is treated as a party to the contract.
Scope of Authority
The extent of powers given to an individual or a body, determined by an agreement, law, or rules governing their actions.
Agent
A person or entity authorized to act on behalf of another, often in a business or legal setting, to undertake specific actions or transactions.
Contract
A legally binding agreement between two or more parties that outlines obligations and rights of those parties.
- Distinguish between disclosed, partially disclosed, and undisclosed principals and their liabilities.
- Understand the role of express, implied, and apparent authority in agency relationships.
Verified Answer
MR
Learning Objectives
- Distinguish between disclosed, partially disclosed, and undisclosed principals and their liabilities.
- Understand the role of express, implied, and apparent authority in agency relationships.
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