Examlex
How do approaches to complex negotiation tasks differ between Westerners and Asians?
Negotiable Instruments
Written contracts (like checks, promissory notes, and bills of exchange) that guarantee the payment of a specific amount of money, either on demand or at a set time.
Actual Authority
The explicit power given to an agent by a principal, allowing the agent to act on the principal's behalf.
Express Authority
Explicit, direct power given to an individual or entity to perform actions or make decisions on behalf of another.
Implied Authority
The power assumed by a person that allows them to act for another, even if not explicitly granted.
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