What Is Meant by Spontaneous Financing

question 60

Essay

What is meant by spontaneous financing?

---

Definitions:

Incompetent

Lacking the necessary ability, knowledge, or fitness to perform a legally designated responsibility or action effectively.

Undisclosed Principal

An undisclosed principal is a party in a contractual agreement who remains unknown to the other party or parties involved.

Unidentified Principal

In agency law, this refers to a situation where an agent acts on behalf of a principal who is not disclosed to the third party at the time of the transaction.

Liability

The state of being legally responsible for something, typically involving financial or legal obligations that result from one's actions or agreements.