Examlex
Which of the following best describes alternative dispute resolution mechanisms?
Operation Of Law
The automatic application of law to certain actions and circumstances without the need for an agreement or court action.
Agency Relationship
An agency relationship is a legal arrangement in which one party, the agent, is authorized to act on behalf of another party, the principal, in business transactions.
Power Given As Security
Refers to a legal arrangement where authority or control over assets is given to someone as a form of security for a debt or obligation.
Agency Relationship
A legal relationship established when one party (the agent) is authorized to act on behalf of another (the principal) in business transactions.
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