What Is Minimum Required Cash

question 47

Essay

What is minimum required cash?

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Definitions:

Principal

The primary party involved in a transaction or agreement, often responsible for the overall terms and conditions.

Agent

An individual or entity authorized to act on behalf of another person or entity in business transactions or legal matters.

Express Authority

The power explicitly given to an agent or employee to act on behalf of a principle or employer.

Implied Authority

A form of authorization assumed to be given by a principal to an agent as part of the agent's role, even if not explicitly stated.