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:

Work in Process

Work in process (WIP) refers to the materials and labor that are in the production process but have not yet been completed or transformed into finished goods.

Manufacturing Product

The end result of the manufacturing process, which is the production of goods in a factory.

Cost of Goods Manufactured

The total cost incurred by a company to produce goods within a specific period, including materials, labor, and overhead.

Raw Materials

Basic materials and substances used in the initial stages of the production process.