Examlex
According to the phase diagram given,which of the following is INCORRECT?
Principal
The main party involved in a contract or agreement, or the head of a school.
Agent
A person or entity authorized to act on behalf of another person or entity in a particular transaction or legal situation.
Apparent Authority
The appearance or assumption of authority based on the actions or statements of the presumed principal, irrespective of whether true authority exists.
Actual Authority
The express and implied powers given to an agent by a principal, allowing the agent to make legally binding decisions.
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