A Principal Is Not Bound in Contract with the Third

question 95

Multiple Choice

A principal is not bound in contract with the third party with whom the agent dealt if the agent is

• A) within his express authority.
• B) within his implied authority.
• C) within his apparent authority.
• D) outside his authority but the principal ratified it.
• E) outside his actual and apparent authority.

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Definitions:

Wages

Payments made to workers for their labor, typically calculated on an hourly, daily, or piecework basis.

Union Power

The strength and influence of labor unions in negotiating workers' rights, wages, and working conditions.

Task System

The Task System was a labor system where enslaved people were assigned daily tasks to complete and were allowed some personal time upon the completion of those tasks.

Labor Intensive

Describes industries or processes that require a large amount of labor to produce goods or services, often involving significant human effort and minimal automation.