Subtract

question 145

Multiple Choice

Subtract.

Recognize the conditions under which a principal can ratify unauthorized acts of an agent.

Learn about the principles governing liability for tortious acts committed by agents.

Understand the special rules concerning agency relationships in real estate transactions.

Grasp the impact of an agent’s actions on the legal status and liability of the principal.

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Definitions:

Optimizing Decision

A decision-making process that seeks the best possible outcome or solution from among various choices.

Classical Decision Model

Views decision makers as acting in a world of complete certainty.

Clearly Defined Problem

A situation or issue that has been specified or articulated with clarity, making it easier to understand and solve.

Optimum Solution

The most favorable or desirable solution among a set of outcomes, typically involving the maximization of benefits or minimization of costs.