An Agent Is Liable If He or She Acts for an Undisclosed

question 42

True/False

An agent is liable if he or she acts for an undisclosed principal.

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Definitions:

Probability Model

A mathematical framework that quantifies the likelihood of various outcomes in an experiment or event.

Random Variable X

A variable whose values depend on outcomes of a probabilistic phenomenon, with each of its outcomes assigned a numerical value.

Good Batteries

Batteries that pass quality tests and are deemed reliable for use in various devices.

Probability Model

A probability model is a mathematical representation of a random phenomenon, consisting of a sample space, events within the sample space, and probabilities associated with each event.