Examlex
Flammable liquids have a higher flash point than combustible liquids.
Actual Authority
The explicit power granted by a principal to an agent to act on their behalf.
Gratuitous Agent
An individual who acts on behalf of another without receiving any compensation or benefit, motivated by voluntary intent or relationship.
Duty of Loyalty
An obligation of an individual, such as a director of a company, to act in the best interests of the company or another person, without personal conflict.
Fiduciary
A person or organization that acts on behalf of another person or persons, putting their clients' interest ahead of their own, with a duty to preserve good faith and trust.
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