An Undisclosed Agency Exists Where the Third Party Is Aware

question 63

True/False

An undisclosed agency exists where the third party is aware that the party he is dealing with is an agent,but does not know the identity of the principal.

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Definitions:

Tradeoff

A scenario in which one characteristic or element is forfeited in exchange for acquiring a different characteristic or element.

Efficiency

The extent to which time, effort, or cost is well used for the intended task or purpose, often with the goal of minimizing waste and maximizing output.

Equality

A state of being equal, especially in status, rights, and opportunities.

Income Redistribution

A policy or process aimed at adjusting the distribution of income among a population to reduce inequality.