Where There Is a Valid Delegation of Duties but the Delegatee

question 82

True/False

Where there is a valid delegation of duties but the delegatee has not assumed the duties under a contract,the delegation is called an assumption of duties.

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Definitions:

Taxes

Compulsory financial charges or levies collected by governments from businesses and individuals to fund public expenditures.

Negative Externalities

Costs suffered by a third party due to an economic transaction that they were not a part of.

Coase Theorem

A principle that asserts that if property rights are well-defined and transaction costs are negligible, parties will negotiate to correct externalities and allocate resources efficiently.

Private Market

A private market is a part of the financial market in which investments are negotiated directly between parties, without public market listing.