Which Is a Requirement for Establishing Apparent Authority

question 81

Multiple Choice

Which is a requirement for establishing apparent authority?

• A)underlying express authority
• B)an agency agreement
• C)both a and b
• D)none of the above

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Definitions:

Capital

Financial assets or the financial value of assets, such as cash and goods, used to start or operate a business.

Function

The specific purpose or activity for which something is used or designed to do.

Partnerships

A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.

Competent Manager

An individual who possesses the necessary skills, knowledge, and experience to effectively direct and control business operations.