An Undisclosed Agency Exists Where the Third Party Is Aware

question 63

True/False

An undisclosed agency exists where the third party is aware that the party he is dealing with is an agent,but does not know the identity of the principal.

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Definitions:

Corporate Obligation

Refers to the legal and ethical responsibilities that a corporation has towards its stakeholders, including employees, customers, shareholders, and the community.

Separate And Apart

A legal term often used in divorce proceedings, indicating spouses are living physically apart and leading separate lives.

Joint And Several

A legal term referring to the liability shared by two or more parties, where each party is individually responsible for the entire obligation, as well as collectively with the others.

Corporate Veil

A legal concept that separates the personal liability of shareholders and officers from that of the corporation itself.