Examlex
Scientific observations have shown which of the following statements to be TRUE?
Agency Relationship
An arrangement where one party, the agent, acts on behalf of another, the principal, in dealings with third parties.
Lawful Purpose
A requirement that the objective or reason behind a contract or agreement must be legal and not against public policy for it to be enforceable.
Power Of Attorney
A specific type of express authority that grants an agent specific powers.
Incompetent Principal
A legal term referring to a person who lacks the capacity to engage in a contract or manage their own affairs due to mental disability, illness, or minority.
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