Examlex
Name some common financial ratios used by investors to compare different companies.
Implied Authority
The power of an agent to perform acts that are reasonably necessary to accomplish the purpose of an organization, even if not explicitly granted.
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.
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