Asked by
Jasmyne Harvey
on Nov 21, 2024Verified
When Sakura and Gwen enter their agreement, what type of principal is Jason?
A) Disclosed
B) Undisclosed
C) Partially disclosed
D) Unidentified
E) Legally nonexistent
Business Law
The body of law that governs business and commercial transactions, including contracts, property, and liability.
Undisclosed Principal
A principal whose identity is not revealed by the agent to the third party during a transaction, creating legal implications concerning the agent's liability.
Disclosed Principal
A principal whose identity is made known by the agent to a third party at the time of entering into a contract, which directly affects the liability and obligations under the contract.
- Understand the legal repercussions associated with various categories of principals (disclosed, partially disclosed, undisclosed).
Verified Answer
SP
Learning Objectives
- Understand the legal repercussions associated with various categories of principals (disclosed, partially disclosed, undisclosed).