The Issue of Non-Routine Transactions Will Become Increasingly More Important

question 14

True/False

The issue of non-routine transactions will become increasingly more important.

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Definitions:

Undisclosed Principal

An Undisclosed Principal refers to a situation where an agent acts on behalf of a principal, but the identity of the principal is not revealed to the third party at the time of the transaction.

Suing

The act of initiating legal proceedings against a person or entity to recover a right or redress a grievance.

Enduring Power of Attorney

A legal document that allows an individual to appoint another person to make decisions on their behalf, even if they become mentally incompetent.

Contract of Agency

A legal agreement in which one party (the agent) agrees to act on behalf of another party (the principal) in business transactions.