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MATCHING -Temporary Storage Area for Files and Information

question 20

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MATCHING
-temporary storage area for files and information


Definitions:

Agency Relationship

An arrangement where one party, the agent, acts on behalf of another, the principal, in dealings with third parties.

Lawful Purpose

A requirement that the objective or reason behind a contract or agreement must be legal and not against public policy for it to be enforceable.

Power Of Attorney

A specific type of express authority that grants an agent specific powers.

Incompetent Principal

A legal term referring to a person who lacks the capacity to engage in a contract or manage their own affairs due to mental disability, illness, or minority.

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