When an Agent Has the Power to Do Whatever Is

question 33

True/False

When an agent has the power to do whatever is reasonable and customary to carry out the agency purpose, the agent has implied authority.

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Definitions:

Technological Development

Technological development involves the process of researching, innovating, and implementing new technologies to improve or create products, services, and processes.

Banks Closed

"Banks Closed" refers to situations when banking institutions are not operating, which could be due to holidays, strikes, financial crises, or regulatory actions.

Travel Time

The duration taken to move from one location to another.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment and financial instability.