What Is the Term for a Third Party with Whom

question 33

Multiple Choice

What is the term for a third party with whom an agent conducts business on behalf of a principal?

• A) principal
• B) agent
• C) defendant
• D) outsider

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Definitions:

Transaction

A business deal or action, such as buying or selling, between two or more parties.

Warranty

A warranty is a guarantee provided by a seller to a buyer, promising to repair or replace a product if it fails within a certain period after purchase.

Disclaimed

The act of renouncing a claim to or denying responsibility for something, often seen in legal disclaimers or warranties.

Type

A category or class that individuals or things can be grouped into based on shared characteristics or qualities.