Where a Third Party Contracts with an Undisclosed Principal Via

question 35

Multiple Choice

Where a third party contracts with an undisclosed principal via an agent, the principal will still be able to enforce the contract with the third party unless:

• A)the agent did not have authority to act for the principal or the agent told the third party that they were acting on their own behalf.
• B)the agent did not act in good faith.
• C)the third party chooses not to proceed with the contract.
• D)the terms of the contract are unfair to the third party.

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Definitions:

Income Level

The amount of monetary compensation received by an individual or household from various sources, often used as an indicator of economic status or standard of living.

Company's Profit

The financial gain made by a business after subtracting all expenses, taxes, and costs from total revenue.

Defined Benefit Plan

A type of pension plan where the benefits that the employee will receive upon retirement are predefined, usually based on factors like salary and years of service.

Money Purchase Plan

A type of defined contribution retirement savings plan where employer and employee contributions are fixed.