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A Principal Is Bound by Contracts That an Agent Enters

question 40

Essay

A principal is bound by contracts that an agent enters into with authority.Discuss the various types of contractual authority an agent may have.


Definitions:

No-fault Divorces

A type of divorce that allows for the dissolution of marriage without the need for either party to prove wrongdoing or fault.

Property Ownership

The legal right to possess, use, and dispose of land, buildings, or other assets.

Jacksonian Democrats

A political movement in the United States during the 1820s to 1840s that championed greater rights for the common man and was opposed to any signs of aristocracy in the nation.

Protective Tariffs

Taxes levied on imported goods to protect domestic industries from foreign competition by making imported goods more expensive.

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