An Agent Does Not Incur Liability for Any Losses Caused

question 13

True/False

An agent does not incur liability for any losses caused by disobeying a principal's instructions. ​

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Definitions:

Limited Liability Partnership

A business structure that protects its partners from personal liability for certain partnership debts and obligations.

Liability for Obligations

The legal responsibility of an individual or entity to fulfill contractual, financial, or legal obligations.

Partnership Assets

Properties, cash, or any resources owned by a partnership that are used in conducting its business.

Partnership Rules

Specifically tailored laws and guidelines governing the operation, taxation, and dissolution of partnerships.