Examlex
Registered bondholders receive periodic interest payments without any action on their part.
Undisclosed Principal
A situation in contract law where an agent acts on behalf of a principal, but the identity of the principal is not revealed to the third party.
Personal Liability
An individual's legal responsibility to satisfy debts or obligations from personal assets, not just those tied to a particular venture or entity.
Scope of Authority
The range or extent of power that an individual or organization legally has to perform actions or make decisions.
Negligence
The failure to exercise the care that a reasonably prudent person would exercise in like circumstances.
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