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Who Is § 1233

question 37

Multiple Choice

Who is § 1233.3 (a) of Title 12 (Banks and Banking) of the U.S. Electronic Code of Federal Regulations applicable to?


Definitions:

Specialized Equipment

Tools or machinery designed for a specific, often technical or industrial, purpose, necessitating particular skills for operation.

Known Principal

A principal whose identity is disclosed to the third party by the agent at the time of a particular transaction.

Agent Liability

The legal responsibility of an agent to act in the best interest of their principal, facing consequences for failure to comply.

Apparent Authority

The power that a third party perceives an agent to have, based on the principal's representations, leading the third party to reasonably believe that the agent is authorized.

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