An Agent's Implied Authority Is Derived from an Agent's Express

question 25

True/False

An agent's implied authority is derived from an agent's express authority and consists of what is reasonably necessary for carrying out the agent's grant of express authority.

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Definitions:

Raw Materials

Basic materials obtained in their natural state that are processed to produce goods or provide services.

Code Classifications

Systems or methods for organizing laws, regulations, or standards into categories for easier reference and application.

Catchall Category

A broad classification used to group items or concepts that do not fit neatly into other categories.

Instruments

Formal legal or financial documents that represent some monetary value or agreement, including notes, bonds, contracts, and deeds.