If an Agent Breaches Duties Owed to the Principal,the Principal

question 64

True/False

If an agent breaches duties owed to the principal,the principal can sue the agent; and the principal may be entitled to a variety of contract and tort remedies beyond those stated in the contract between the principal and agent.

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Definitions:

Ratification

Ratification is the formal approval of an agreement, treaty, or contract, often by voting or through some legal process, making it officially valid.

Unauthorized Agent

An individual who acts on behalf of another party without having been given the legal or official authority to do so.

Breach Of Warranty

The violation of a promise, assertion, or guarantee made regarding the quality or nature of a product.

Transferee

A person or entity to whom rights or property is legally transferred.