An Agency Always Requires

question 58

Multiple Choice

An agency always requires:

• A) both an agent and principal who are adults
• B) a written contract
• C) consideration on the part of both the principal and the agent
• D) an identified underlying transaction
• E) intent by both the principal and agent to be in the arrangement

Understand the formation and basis of international law through customs, treaties, agreements, and organizations.

Grasp the legal considerations and implications of sovereign immunity in the context of international law.

Identify the principles of comity and the act of state doctrine and their application in international legal disputes.

Comprehend the mechanisms for resolving international business disputes, including arbitration and judicial decisions.

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Definitions:

Age Of Majority

The legally defined age at which an individual is considered an adult with the full capacity to enter into binding contracts.

Limited Capacity

Limited capacity refers to a person's restricted legal ability to perform certain actions or enter into contracts due to age, mental condition, or other legal constraints.

Voidable

A legal term indicating that a contract or transaction can be legally canceled or annulled by one of the parties.

Legally Binding Contract

A legally binding contract is an agreement between parties that is enforceable by law, meaning each party has legal obligations they must fulfill.