Examlex

Solved

Rules and Expectations for How to Behave in Various Situations

question 44

Multiple Choice

Rules and expectations for how to behave in various situations are called __________.


Definitions:

Automatic Termination

A clause within a contract or agreement that causes it to end automatically upon the occurrence of specific conditions.

Illegal Act

An action that is forbidden by law or statute.

No Recourse

A clause in an agreement that limits the ability of a lender to seek additional compensation from a borrower beyond the collateral securing a loan if the borrower fails to repay.

Subagent

An agent of an agent, or a person who is appointed by an agent to perform tasks that the agent has undertaken to perform for the principal.

Related Questions