A General Agent Is Authorized by the Principal to Do

question 47

True/False

A general agent is authorized by the principal to do all acts that can be delegated lawfully to a representative.

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Definitions:

Incapacitated

Refers to the state where an individual or entity is legally unable to make their own decisions due to mental or physical disability.

Partially Disclosed

Refers to a situation where some but not all relevant information has been revealed.

Indemnification

Payment for loss or damage suffered.

Fiduciary Relationship

A relationship based on trust such as exists between an attorney and a client, an agent and a principal, a guardian and a ward, a trustee and a beneficiary, or a director and a corporation.