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Considering the Research Findings Described in the Textbook, Only One

question 3

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Considering the research findings described in the textbook, only one of the following is a true statement.Which one is true?


Definitions:

Express Authority

Express authority refers to the specific powers given to an agent or entity, explicitly outlined in a contract or agreement.

Apparent Agency

A situation where a principal indirectly indicates that another (the agent) is authorized to act, leading a third party to believe that the agent is acting within their authority.

Contractual Capacity

The legal ability of a person to enter into a binding contract.

Lawful Purpose

Involves activities or objectives that are not illegal or prohibited by law, often a prerequisite in contract law to ensure that the contract’s intent complies with legal standards.

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