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