In Canada, Most Negotiated Agreements Are Based on All of the Following

question 52

Multiple Choice

In Canada, most negotiated agreements are based on all of the following, except:

• A) your political connections
• B) a formal process
• C) logic
• D) a legal system of enforcement

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Definitions:

Implied Agency

A form of agency relationship created by actions of the parties involved rather than a written agreement, suggesting one party can act on behalf of another.

Express Agency

An agency relationship created by an explicit written or oral agreement between the agent and the principal.

Exclusive Agency

A contractual arrangement in which one agent is given the exclusive right to represent a client or a property, typically in the sale of real estate or intellectual property.

Agency Contract

An agreement where one party (the agent) agrees to act on behalf of another (the principal) in business transactions.