While the Principal Parties to a Transaction Must Be Legally

question 12

Multiple Choice

While the principal parties to a transaction must be legally competent for a contract to be valid, it is possible for a party acting on behalf of a principal to obtain this legal right. In order for personal representatives and trustees to be authorized to act on behalf of a principal, a legal instrument commonly referred to as ____________ must be in place.

• A) assignment
• B) power of attorney
• C) mutual assent
• D) consideration

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Definitions:

Direct Subjective

An approach or assessment that is based on personal opinions, feelings, or attitudes without objective measurement.

Staffing Procedures

Processes and activities involved in identifying, attracting, evaluating, and hiring employees to fill job vacancies within an organization.

Objective Performance

Measurement based on fact, free from bias, and quantifiable in terms of outcome or achievement in a person's job role.

Subjective Measures

Methods of assessment based on personal opinions, interpretations, points of view, or judgments rather than objective data or criteria.