In ____, the Contractor Agrees to Handle Every Detail of the Project

question 36

Multiple Choice

In ____, the contractor agrees to handle every detail of the project for a foreign client, including the training of operating personnel.

• A) exporting
• B) licensing
• C) franchising
• D) turnkey projects

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Definitions:

Agent

Someone who is authorized to act on behalf of another person (the principal), especially in business or legal matters.

Apparent Authority

A situation where a person appears to have the authority to act on behalf of another person or company, leading others to rely on that apparent authority.

Durable Power

Refers to a legal document granting someone else the authority to act on your behalf in specific legal and financial matters, even after you become incapacitated.

Uniform Durable Power

A legal document that grants one person (the agent) the authority to act on behalf of another (the principal) in a wide range of matters and remains in effect even if the principal becomes incapacitated.