Examlex
Which below is not true concerning a secondary rainbow?
Actual Authority
The express and implied powers granted to an agent by the principal.
Partially Disclosed Principal
A principal whose identity is not known by a third party, although the third party is aware that the agent is making an agreement on behalf of a principal. Also called unidentified principal.
Apparent Authority
A form of authority that a third party perceives to exist based on the principal’s behavior, even if no actual authority has been granted by the principal to the agent.
Agency Relationship
A legal arrangement in which one party, the agent, is authorized to act for another, the principal, in business transactions.
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