When an Agent's Acts Create the Appearance of an Agency

question 105

True/False

When an agent's acts create the appearance of an agency that does not in fact exist, the principal is estopped to deny the agency relationship.

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Definitions:

Economic Theories

The principles and models that aim to explain how economies work and how economic agents interact.

Descriptive Economics

The branch of economics that focuses on describing the economies or economic events.

Post Hoc, Ergo Propter Hoc

A logical fallacy that suggests that if one event follows another, the first event must have caused the second.

Fallacy

A mistaken belief, especially one based on unsound argument or reasoning.