The Indemnity a Principal Ordinarily Owes to an Agent Extends

question 11

Multiple Choice

The indemnity a principal ordinarily owes to an agent extends to:

• A)All payments made, expenses incurred and liabilities assumed as a necessary result of carrying out the instructions of the principal
• B)All of the agent's business expenses.
• C)All of the expenses and liabilities of the agent however they arise.
• D)All payments made and expenses and outlays incurred while the agent is carrying out the instructions of the principal, but not liabilities to third parties.

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Definitions:

Developing Nation

A term used to describe a country with a relatively low level of industrial and economic development.

Economies of Scale

Cost advantages that entities obtain due to their scale of operation, leading to a reduction in per-unit cost as production increases.

Nation-State

An independent political unit with specific boundaries, a stable population, governance structures, and the ability to engage in diplomatic relations with other political entities.

Just Cause

A criterion under the just war theory, which states that to be morally permissible, a war must be waged only for honorable motives.