If an Unauthorized Agent Signs a Note on Behalf of a Principal,then

question 4

True/False

If an unauthorized agent signs a note on behalf of a principal,then only the agent is liable on the note.

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Definitions:

Interest

The cost of borrowing money, paid by the borrower to the lender, typically expressed as an annual percentage of the loan amount.

Capital Account

An account on the balance sheet representing the owners' or shareholders' equity, including funds contributed by investors and retained earnings.

Capital Account Balance

The net result of public and private international investments flowing in and out of a country, representing changes in national ownership of assets.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and losses from the total revenue.