What Did the Jurors in the Citigroup Case Conclude

question 25

Multiple Choice

What did the jurors in the Citigroup case conclude?

• A)That the Citigroup managers had violated the law
• B)That the Citigroup managers acted with criminal intent
• C)Both a and b
• D)That the Citigroup managers' conduct was appalling, but did not violate the law

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Definitions:

Principal's Ratification

The formal approval by a principal (party in authority) of an act performed on their behalf, usually validating a previously unauthorized act.

Contractual Liability

The obligations and responsibilities one party owes to another under the terms of a contract.

Unidentified Principal

An unidentified principal occurs in agency relationships when the third party interacting with the agent does not know the identity of the principal for whom the agent is acting.

Disclosed Principal

A principal whose identity is made known by the agent to the third party at the time of entering into a contract with the third party.