When an Agent Who Lacks a Principal's Authority Executes a Contract

question 51

Multiple Choice

When an agent who lacks a principal's authority executes a contract with a third party, the contract: ______.

• A) binds the principal but not the agent.
• B) binds both the principal and the agent.
• C) does not bind the principal.
• D) binds the third party only.

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Definitions:

Statistical Procedure

A method of collecting, analyzing, interpreting, and presenting data to uncover underlying patterns and trends.

Scheffé Test

A statistical test used for making comparisons between group means after an ANOVA, allowing for all possible pairwise comparisons.

Simple And Complex Comparisons

Comparisons that involve directly comparing two samples (simple) or analyzing multiple samples or variables simultaneously (complex).

One-Way ANOVA

Statistical procedure used to test differences between the means of three or more groups comprising a single independent variable.