Examlex
Which of the following is the best definition of a catalyst?
Implied Authority
Authority of an agent that is not expressly granted but assumed to be given as necessary to perform tasks related to their job.
Actual Authority
The explicit power granted to an agent or representative by the principal to perform certain acts on their behalf.
Principal's Ratification
The formal approval by a principal (party in authority) of an act performed on their behalf, usually validating a previously unauthorized act.
Contractual Liability
The obligations and responsibilities one party owes to another under the terms of a contract.
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