Agents Who Go Beyond Their Authority When the Principal Is

question 65

True/False

Agents who go beyond their authority when the principal is disclosed or partially disclosed are liable to third parties for breach of contract, not breach of implied warranty.

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Definitions:

Inventory Value

The total cost or market value of all the goods and materials held by a company intended for sale.

Cash Position

The total amount of liquid assets or cash available to an individual, company, or institution at a given moment.

Demand Deposits

Demand Deposits are bank account funds that can be withdrawn at any time without any advance notice to the institution, such as checking accounts.

Forex

The market in which currencies are traded. It is the largest and most liquid financial market in the world.