Examlex
Which one of the following statements is correct?
Principal
The amount of money originally invested or loaned, on which basis interest and returns are calculated.
Agent
A party who has the authority to act on behalf of and bind another party.
Third-Party Beneficiary
A person who is not directly involved in a contract but is entitled to benefits from its performance by the contracting parties.
Gratuitous Agent
An agent who acts without being paid for his or her services.
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