In What Way Are Agency Relationships Distinct from Most Other

question 18

Multiple Choice

In what way are agency relationships distinct from most other legal relationships?

• A) all authority must be formalized
• B) agent authority must be express
• C) mutual consideration is not required
• D) agent authority may be express or implied

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Definitions:

Suppliers

Entities that provide goods or services to another organization, often playing a critical role in the supply chain.

Resellers

Businesses or individuals that purchase goods or services with the intent to sell them rather than consume or use them.

Mission Statement

A formal summary of the aims and values of a company, organization, or individual, providing a clear direction and purpose.

Sustainability Doctrine

A principle that promotes the development and use of practices that meet current needs without compromising the ability of future generations to meet theirs.