Under the Third Restatement, an Agent Representing an Undisclosed Principal

question 35

Multiple Choice

Under the Third Restatement, an agent representing an undisclosed principal is discharged from liability if the third party:

• A) gets a satisfied judgment against the principal.
• B) becomes aware of the principal.
• C) gets a judgment against the agent.
• D) He is never discharged from liability.

Understand the concept of expected utility and how it guides decision-making under risk.

Apply the expected utility theory to analyze choices between certain and uncertain outcomes.

Interpret and graph utility functions to understand preferences over risky outcomes.

Evaluate investment decisions using the von Neumann-Morgenstern utility function.

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Definitions:

Commercialization

The process of introducing a new product or production method into the market, turning inventions into commercial products.

Full-Scale Production

The phase in which a product is manufactured at its highest capacity, often after successful prototypes and pilot runs, to meet the demand in the market.

New-Product Development

The process of bringing a new product to the marketplace, from idea generation to commercialization.

Commercialization

The process of bringing a new product or service to the market, involving production, distribution, marketing, and sales strategies.