The Purpose of the Doctrine of Election of Remedies Is

question 44

True/False

The purpose of the doctrine of election of remedies is to permit a double recovery.

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Definitions:

Agent

A representative authorized to act on behalf of another person or organization, especially in business or legal matters.

Principal

The original amount of money invested or loaned, upon which interest is calculated, or the main party involved in a transaction.

Ratification

The official way to confirm something, usually by vote, making it valid or officially approved.

Agency

A legal entity in which one party (the agent) is authorized to act on behalf of another (the principal) in creating legal relationships with third parties.