Examlex
After several interviews and calls to follow up on references,Fashion By Design Inc.chooses a seasoned lawyer from a well-known commercial law firm to provide legal services to the company.Why does the company's management expend substantial effort during the lawyer selection?
Agreement
A mutual arrangement, contract, or understanding between two or more parties, usually legally binding.
Undisclosed Principal
A person who remains unknown to a third party while being represented by an agent in a transaction or agreement.
Disclosed Principal
A principal whose identity is known to the third party at the time a contract is entered into by the agent on behalf of the principal.
Partially Disclosed Principal
A principal whose identity is unknown by a third party, but the third party knows that the agent is or may be acting for a principal at the time the agent and the third party form a contract.
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