In Which of the Following Situations Does the Agent Have

question 61

Multiple Choice

In which of the following situations does the agent have no liability to third parties?

• A)contract entered into with express authority and a fully disclosed principal
• B)contract entered into with no authority but later ratified in full by the principal
• C)contract entered into for a corporation before the corporation was formed but with full knowledge and support of the incorporators
• D)The agent has no liability in any of the above.

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Definitions:

Monetary System

The set of mechanisms and institutions that provide a country with its currency and manage its supply and value.

Trade Deficit

The economic condition that occurs when a country imports more goods and services than it exports.

Economic Growth

Economic Growth is the increase in a country's production of goods and services over time, typically measured as the percentage increase in real GDP.

Direct Foreign Investment

An investment from a company or individual in one country into the business landscape of another country, through starting new business operations or buying existing business assets.