An Agent Has the Power to Contractually Bind Her Principal

question 9

True/False

An agent has the power to contractually bind her principal whenever she has actual or apparent authority and acts within her authority.

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Definitions:

Offeree

The individual or entity to whom an offer is made in a contract scenario.

Offeror

The party in a contract proposal who makes an offer to enter into an agreement, waiting for the acceptance of the offeree.

Assignor

A party who transfers their rights or interests in a contract or property to another party, known as the assignee.

Mirror-Image Rule

A principle in contract law stating that an offer must be accepted exactly without modifications for a valid contract to be formed.