An Agent for an Unidentified Principal Is Liable on the Contract

question 60

True/False

An agent for an unidentified principal is liable on the contract to the third party no matter whether the particular transaction is authorized or not.

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Definitions:

Prices

A term referring to the amount of money required to purchase a good or service; it is determined by factors such as demand, supply, and production costs.

Reasonable Product

A product considered to meet a satisfactory standard in terms of quality, functionality, and price.

Cheapest Product

A product offered at the lowest possible price point, often as a strategy to attract cost-conscious consumers or gain market share.

Marketing Mix

The set of controllable tactical marketing tools—product, price, place, and promotion—that a company uses to produce a desired response from its target market.