In Considering the Scope of an Agent's Implied Authority, the Test

question 1

True/False

In considering the scope of an agent's implied authority, the test is whether the agent reasonably believed that he or she had the authority.

---

Definitions:

Wheel Of Retailing

A concept that describes how new forms of retail outlets enter the market.

Retail Outlets

Physical locations through which goods are sold directly to the end consumer.

McDonald's Evolution

The historical growth and change of McDonald's Corporation, detailing how it expanded from a single restaurant into a global fast-food chain.

Wheel Of Retailing

A concept that describes how new types of retailers enter the market as low-status, low-margin stores and then evolve into higher-priced, higher-service establishments, eventually becoming similar to the conventional retailers they replaced.