A Principal Who Causes a Third Person to Believe That

question 41

True/False

A principal who causes a third person to believe that another person is the principal's agent can be estopped from denying the agency relationship.

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Definitions:

Sarbanes-Oxley Act

A U.S. law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures, following major financial scandals.

Financial Reports

Documents that detail the financial health and performance of a business, including balance sheets, income statements, and cash flow statements.

Rent Expired

The portion of the rental period that has elapsed or the cost of rent that has been used up over a specific accounting period.

Accounting Period

A specific time span for which financial records are maintained and reported, such as a fiscal year or quarter.