Apparent Authority Is the Authority the Agent Has Based on What

question 58

True/False

Apparent authority is the authority the agent has based on what the principal has led the third party to believe.

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Definitions:

Foreign Market

Refers to markets outside the company's home country where it can sell or market its products or services.

Exporting

The process of exporting products or services to a foreign country for the purpose of selling them.

Licensing

An agreement in which a company allows another entity to produce its product in exchange for a predetermined fee.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity.