Examlex
Which of the following statements is true about a competency study?
Fiduciary Duty
An obligation to act in the best interest of another party, such as a trustee for a beneficiary.
Apparent Authority
An agent’s ability to affect the principal’s legal relations. Consent must be communicated to the third party.
Restatement (Third)
The third update to a set of model civil and criminal statutes designed to clarify, modernize, and otherwise improve American law.
Renunciation
Occurs when either party manifests to the other that he does not wish the agency to continue. This is done by the agent.
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