Where a Third Party Deals with an Agent, but Is

question 2

True/False

Where a third party deals with an agent, but is unaware that he/she is dealing with an agent, the principal would be contractually bound to the third party for any tort.

---

Definitions:

Liabilities

Financial obligations or debts a company owes to others, expected to be settled over time through the transfer of assets, provision of services, or other economic benefits.

Statement of Stockholders' Equity

Financial documentation that shows changes in the value of a company's equity over a reporting period.

Retained Earnings

Retained earnings refer to the portion of a company's profits that are kept or retained within the company for reinvestment or to pay debt, rather than being paid out as dividends.

Dividend Declarations

Official announcements by a company's board of directors to pay dividends to shareholders, specifying the amount and the payment date.