An Agency Contract Appointing the Agent for a Period of More

question 24

True/False

An agency contract appointing the agent for a period of more than one year does not have to be in writing.

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Definitions:

Reimburse

To reimburse is to pay back or compensate someone for expenses they have incurred.

Incorporation

The process of legally declaring a corporate entity as separate from its owners.

Mandatory Dividend Provisions

Rules or clauses within a company's charter or bylaws that require the company to pay dividends to its shareholders under certain conditions.

Corporate Laws

Regulations and legal principles dealing with the formation, operation, and dissolution of corporations.