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Figure 1.2
Using the figure above, identify the labeled part.
-Label H: ______________________________
Primary Liability
The direct and immediate responsibility to fulfill an obligation or repay a debt, without necessarily having recourse against others for reimbursement.
Secondary Liability
Secondary Liability refers to the legal responsibility of a third-party for the actions of another, such as a parent company being liable for the actions of its subsidiary.
Party Authority
The legal power or capacity of a party to enter into a binding contract or agreement.
Act On Behalf
The action of representing or making decisions for someone else or another entity.
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