Samuel Writes to Emma Authorizing Her to Sell His Automobile

question 37

True/False

Samuel writes to Emma authorizing her to sell his automobile for $3,000.Emma,although she has no authority to delegate this task,asks Renaldo to try to sell the car.If Renaldo makes a contract with Michelle for the sale of the car,Samuel is not obligated to sell to Michelle,and Samuel acquires no rights against Michelle.

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Definitions:

Beginning Capital Balance

The total funds noted in a corporation's books at the beginning of a fiscal period.

Personal Use

The application or employment of something for the benefit or enjoyment of an individual, often distinct from business or commercial usage.

Income Distribution

The way in which a country's total GDP is spread among its population, affecting economic inequality.

Limited Liability Partnership

A partnership in which some or all partners have limited liabilities, meaning they are not personally responsible for the debts of the business.