An Agency Relationship Must Be Based on an Express or Implied

question 21

True/False

An agency relationship must be based on an express or implied agreement that the agent will act for principal and that the principal agrees to have the agent so act.

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Definitions:

Standards

Established norms or criteria which define acceptable levels of quality, behavior, or performance.

Affect People

A broad term that could relate to how emotions and mood influence human behavior and interaction.

Overjustification Effect

A phenomenon where providing excessive external rewards for an already internally rewarding activity reduces a person's intrinsic motivation.

Example

A representative case or model that illustrates a general rule or serves as a typical instance of a particular phenomenon.