An Agent's Authority Is the Power to Change the Principal's

question 166

True/False

An agent's authority is the power to change the principal's legal obligations.

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Definitions:

Check Register

A record kept by an account holder of checks written and deposits made into their checking account.

Outstanding Deposits

Funds that have been deposited but not yet credited to the depositor's account or cleared by the bank.

Outstanding Checks

Unprocessed checks that have been written and deducted from an account's balance but not yet presented for payment or cleared.

Check Register

A record book or ledger that tracks all checks written, deposits made, and current balance for a checking account.