An Agent Is Authorized to Act on Behalf of a Principal

question 9

True/False

An agent is authorized to act on behalf of a principal in doing business with third parties.

Learn how to prepare for unexpected events in the legal profession.

Understand the use of various writing tools in legal writing, including dictionaries, thesauri, and style manuals.

Comprehend the importance of proper document organization and topic sentence structure in legal writing.

Know the citation rules and their sources for legal writing.

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Definitions:

Loanable Funds

The market where savers supply funds for loans to borrowers, often illustrated by the supply and demand for loans.

Interest Rate

The chunk of a loan taken as interest by the borrower, typically outlined as an annual percentage of the loan's outstanding balance.

Surplus

A situation where the quantity of a good or service supplied exceeds the quantity demanded at the current price, often leading to downward pressure on prices.

Loanable Funds

Loanable funds refer to the money available for borrowing in the financial markets, composed of savings from households and businesses plus any government surplus.