A Principal Is Not Bound by Statements Made by an Agent

question 5

True/False

A principal is not bound by statements made by an agent during the transaction of business that is within the scope of the agent's authority.

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Definitions:

Work Environment

The setting, conditions, and culture that employees experience within their workplace.

Knowledge Workers

Individuals whose main capital is knowledge, typically characterized by a high degree of expertise, creativity, and problem-solving capability.

Increased Productivity

A measure of efficiency, indicating a rise in the output of goods and services relative to input over a specific period.

Sick Days

Days for which one is allowed to be absent from work due to illness without losing pay.