Explain for Each of the Following Statements Whether the Agent

question 21

Essay

Explain for each of the following statements whether the agent has liability to the third party.
a.The agent enters into a contract on behalf of its principal with a third party.Unknown to the agent,its principal had died two months previously.
b.The agent acts on behalf of an undisclosed principal.The agent acting on behalf of the principal enters into a contract with the third party.The contract is made in the agent's name,and the circumstances surrounding the contract show that the agent categorically described himself as a principal throughout the negotiations.
c.The agent enters into a contract with the third party but represents himself neither as a principal nor an agent.
d.The agent enters into a contact with the third party.Prior to entering the contract,the agent advised the third party that he was acting on behalf of a principal that did not wish to disclose its name at the present time.

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Definitions:

Social Security Tax

A tax that funds the Social Security program, which provides retirement, disability, and survivors' benefits.

Salary

Regular payments usually made monthly or bi-weekly to an employee, often annualized, for performing a job.

Payroll Taxes

Levies charged to both employers and workers, determined as a proportion of the wages that businesses distribute to their personnel.

Federal Government

The national government of a federated state, which holds the authority to govern at a national level as distinct from regional or local levels.