Examlex
Instructions: Identify the following terms:
Knights of Labor
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.
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