The Three Types of Friendship Are __________, __________, and __________

question 28

Short Answer

The three types of friendship are __________, __________, and __________.

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Definitions:

Contracts

Legally binding agreements between two or more parties that create mutual obligations enforceable by law.

Actual Authority

The specific power given to an agent by a principal, derived from their agreement and can be express or implied based on their actions.

Apparent Authority

The perception by a third party that an agent has the authority to act on behalf of a principal, even if such authority has not been explicitly or implicitly granted.

Principal Liable

Refers to the legal responsibility of the principal party in a relationship (such as an employer) for certain actions of their agents or employees under the doctrine of vicarious liability.