Examlex
Money is "liquid" because
Express Authority
An agent’s authority that the principal voluntarily and specifically sets forth as oral or written instructions in an agency agreement.
Apparent Authority
A situation where a reasonable person would understand that an agent had the power to act on behalf of a principal, even if the agent did not have actual authority.
Agency Relationship
A legal and principal relationship between two parties, where one (the agent) is authorized to act on behalf of the other (the principal) in business transactions.
Durable Power Of Attorney
A document that authorizes an agent to act on another’s behalf, with the power either surviving incapacity or becoming effective upon incapacity.
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