Instructions: Identify the Following Terms

question 32

Short Answer

Instructions: Identify the following terms:
Knights of Labor

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Definitions:

Agent

Someone authorized to act on behalf of another person or entity, often in business transactions or legal matters, with certain duties and powers.

Ratification

Ratification is the act of officially approving an agreement or contract, making it valid, or the process of confirming and accepting unauthorized actions by an agent on behalf of a principal.

Express Authority

The power given explicitly to an agent or representative by a principal, through verbal instructions or written documentation.

Implied Authority

Indicates the power or permission granted through actions or circumstances, not explicitly outlined in a contract or verbal agreement.