Which of the Following Parties Has the Power to Bind

question 25

Multiple Choice

Which of the following parties has the power to bind an organization to a contract?

• A) A soliciting agent for the organization.
• B) A contracting agent for the organization.
• C) A sales agent for the organization.
• D) None of the above.

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Definitions:

Symbolic Ties

Relationships or connections that are not based on formal agreements but rather on shared values, trust, or identity.

Board of Advisors

A group of external experts who provide strategic advice to the management of a company, but who do not have any governance authority.

Personal Liability

The legal responsibility of an individual to repay debt or answer for other obligations out of their personal assets, not just the assets of their business or investment.

Network Density

The measure of how closely knit a network is, indicating the extent of connections or interactions among its members.