A Partially Disclosed Principal Is Only Partially Liable to a Third

question 69

True/False

A partially disclosed principal is only partially liable to a third party for a contract made by an agent.​

---

Definitions:

Uncertainty

Describes a situation where the outcomes or consequences of actions are unknown and unpredictable.

Probability

Likelihood that a given outcome will occur.

Rules of Thumb

Simple, general principles or guidelines that are typically derived from practice rather than theory.

Efficiency Wage Theory

Suggests employers pay a higher wage than the market equilibrium to increase worker productivity and loyalty.