Because Getty Images Licenses Photos in Digital Format,its Overhead Costs

question 18

True/False

Because Getty Images licenses photos in digital format,its overhead costs of setting up and operating
the e-commerce site is essentially zero.

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Definitions:

Power of Attorney

A legal document authorizing one person to act on another's behalf in legal or financial matters.

Equal Dignity Rule

A rule requiring that contracts that would normally fall under the statute of frauds and need a writing if negotiated by the principal must be in writing even if negotiated by an agent.

Apparent Authority

The appearance or assumption of authority based on the actions or representations of the principal, leading others to believe that an agent is authorized.

Settlement Agreement

A legally binding contract where parties in a dispute agree on specific terms to resolve the matter without further litigation.