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Here is a reasoning problem: If Mary is a psychology major at your college then she must take statistics. Mary graduates from your college without taking statistics. Therefore, Mary is not a psychology major. What kind of problem is this?
Undisclosed Principal
A principal whose identity is not revealed by the agent to the third party during a transaction, creating legal implications concerning the agent's liability.
Disclosed Principal
A principal whose identity is made known by the agent to a third party at the time of entering into a contract, which directly affects the liability and obligations under the contract.
Partially Disclosed Principal
In a transaction context, this refers to a situation where the agent reveals the existence of a principal but does not disclose the principal's identity to the third party.
Mixed Motive Contract
A contract where parties have multiple intentions or purposes behind entering the agreement, not solely based on commercial transactions.
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