The Principal Has a Duty to Indemnify the Agent for Losses

question 74

True/False

The principal has a duty to indemnify the agent for losses incurred or suffered while acting as directed by the principal in a transaction which is not illegal or wrongful.

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Definitions:

Economic Growth

The increase in the inflation-adjusted market value of the goods and services produced by an economy over time, typically measured as the percent rate of increase in real GDP.

Full Employment

An economic situation in which all available labor resources are being used in the most efficient way possible, often characterized by the absence of cyclical unemployment.

Technology Level

A measure of the degree of sophistication and advancement of a society's tools, techniques, and methods of production.

Instability

The condition of being prone to change or fluctuation, often in a way that is unpredictable or potentially harmful.