When an Agent, Acting Within the Scope of His or Her

question 26

True/False

When an agent, acting within the scope of his or her authority, contracts with a third party, a disclosed principal is liable to the third party.

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Definitions:

Foreign Banks

Financial institutions based in one country but offering services in another, often playing significant roles in global finance and investment.

Civilian Conservation Corps

A New Deal program in the United States aimed at relieving unemployment during the Great Depression by providing conservation and infrastructure work for young men.

Hitler Youth

The youth wing of the Nazi Party in Germany, aimed at indoctrinating German youngsters with the ideologies of Hitler, including nationalism and racial purity.

Fair Wage

A fair wage refers to equitable remuneration for work performed, ensuring a reasonable standard of living for the worker and their family, often considered in terms of livable wage standards.