Examlex
A manufacturing cycle efficiency (MCE) ratio close to 1.00 is desirable because this is the ratio of value-added time to throughput time.
Estoppel
A legal principle that prevents someone from arguing something contrary to a claim they have previously made or accepted by their actions.
Apparent Authority
A situation where a reasonably prudent person would understand that an agent had the authority to act, even if the agent didn't have actual authority.
Purported Principal
An entity or individual represented as having granted authority to another, whether or not such authority actually exists.
Disclosed Principal
A principal whose identity is known by the third parties with whom the agent enters into contracts on behalf of the principal.
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