A Rule of Thumb in the Founding of Businesses Has

question 70

True/False

A rule of thumb in the founding of businesses has always been that an owner whose business is both a vocation and an avocation is difficult to beat.

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Definitions:

Implied Agency

A situation where an agency relationship is inferred from the actions of the parties rather than an explicit agreement.

Constructive Trust

A legal remedy imposed by a court to rectify situations where someone wrongfully holds property they should not benefit from.

Legal Right

A claim recognized and delimited by law for the purpose of securing it.

Fiduciary

A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients' interest ahead of their own, with a duty to preserve good faith and trust.