An Express Agency Agreement That Is Often Used to Give

question 129

Multiple Choice

An express agency agreement that is often used to give an agent the power to sign legal documents on behalf of the principal is known as a(n) ________.

• A)assignment
• B)accommodation
• C)power of attorney
• D)letter of credit

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Definitions:

Free Trade

The absence of tariffs, quotas, or other government-imposed barriers to international trade, allowing goods to flow freely between countries.

Tariffs

Taxes imposed by a government on imported goods, typically used to protect domestic industries from foreign competition.

Quotas

Restrictions set by governments on the quantity or value of goods that can be imported or exported, used to control trade balances and protect domestic industries.

Infant Industry

A new industry that is in its early stages of development and may be protected or supported by government policies.