Inherent Authority Allows the Agent to Exceed the Authority of the Principal

question 4

Multiple Choice

Inherent authority allows the agent to exceed the authority of the principal

• A) when good opportunities arise.
• B) for that which is reasonably necessary to accomplish the object of the agency.
• C) only when specifically granted permission in advance.
• D) None of the above.

---

Definitions:

High Fees

Charges or prices that are significantly above average or expected, often in the context of services or transactions.

Long-term Customer Relationships

The development and maintenance of enduring relationships with customers, focusing on customer satisfaction and loyalty over time.

Value Formula

An equation or methodology used to determine the worth or perceived worth of a product, service, or entity.

Component Parts

Individual pieces or elements that are assembled together to create a final product, often used in manufacturing and assembly processes.