A Person Who Undertakes to Make a Contract on Behalf

question 3

True/False

A person who undertakes to make a contract on behalf of another person gives an implied warranty that he is in fact authorized to make the contract on behalf of the person he purports to represent.

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Definitions:

Net Exports

Net exports are the difference between a country's total exports of goods and services and its total imports of them, representing the external demand for a country’s goods.

Statistical Discrepancy

The difference between two figures that are supposed to match but do not, often found in economic data due to estimation errors or timing differences.

Current Account

A country's trade balance, plus net income and direct payments, representing the difference between a nation's savings and its investment.

Tourist Expenditures

Amount of money spent by visitors in a country on accommodation, food, transportation, entertainment, and other services and goods.