An Agent Acting Under a Power of Attorney Is Referred

question 48

Multiple Choice

An agent acting under a power of attorney is referred to as an:

• A) implied attorney.
• B) attorney in fact.
• C) implied agent.
• D) attorney at law.

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Definitions:

Corporate Charter

A legal document establishing a corporation and outlining its structure, governance, and purpose, issued by a governmental authority.

Legal Existence

The state of being recognized by law as a legal entity capable of rights and obligations.

Closely Held

Describes a company or corporation that has a small group of shareholders, with shares that are not publicly traded on the stock market.

Publicly Traded

Refers to a company whose shares are bought and sold on the stock market, making its ownership and financial performance available to the public.