Key Terms Instructions: Please Define the Following Key Terms

question 36

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
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Definitions:

Second Restatement

A reference to specific updates or revisions in the American Law Institute's Restatements of the Law, which summarize the general principles of US law.

Principal

The primary party to a transaction or contract who has authorized another (agent) to act on their behalf or the main amount of debt before interest.

Constructive Notice

A legal fiction that signifies a person or entity should have known, as a reasonable person would have, even if they have no actual knowledge of it.

Apparent Authority

A principle that allows a third party to assume an agent has the authorization to act on behalf of a principal, even if such authority has not been granted.