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An Agency Relationship Created When the Principal Acts Such That

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An agency relationship created when the principal acts such that third parties reasonably conclude that an agency relationship exists is legally described as an agency by ratification.


Definitions:

Chi-Square Distribution

The Chi-Square Distribution is a statistical distribution used for hypothesis testing and is derived from the sum of the squares of a set of normally distributed random variables.

Degrees of Freedom

The number of values in the final calculation of a statistic that are free to vary.

Qualitative Variables

Variables that express qualitative attributes and differentiate by category, not in numerical terms.

Chi-Square Test

A nonparametric test used to determine if there is a significant association between two categorical variables.

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