Examlex
Multiply and simplify.
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Separate Legal Entity
A business entity that is legally distinct from its owners, meaning it can own property, incur debts, and be sued in its own name.
Ratification
The action of formally confirming or approving an agreement, treaty, or contract, making it officially valid.
Authority
The legal right or power to make decisions, enforce rules, or command obedience.
Principal
In a legal context, a principal can also refer to the person who has authorized another (an agent) to act on their behalf.
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