An Agent May Exceed His Express Authority and Still Bind

question 30

True/False

An agent may exceed his express authority and still bind the principal.

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Definitions:

Assumption

A basic premise or belief that is accepted as true without proof as the basis for argument or inference.

Multiproduct Company

A business entity that manufactures or sells more than one type of product, often across different product lines or industries.

Sales Volumes

The total quantity of a product or service sold by a company during a specific period.

Multiproduct CVP Analysis

A Cost-Volume-Profit analysis extension that assesses the profit impact of selling multiple products, considering their respective contribution margins and fixed costs.