The Appointment of an Agent to Execute a Formal Contract

question 6

True/False

The appointment of an agent to execute a formal contract requires a formal contract of appointment.

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Definitions:

Abrupt Drop

A sudden and steep decline in the value or level of something, such as the stock market or an individual stock.

Marketable Securities

Highly liquid short-term debt investments held by companies instead of cash. Marketable securities provide nearly the liquidity of cash but earn a modest return.

Liquid Investments

Liquid investments are assets that can be quickly and easily converted into cash without significant loss of value.

Aggressive Collection

A technique used by businesses to rapidly pursue the collection of outstanding receivables to improve cash flow and reduce delinquencies.