Examlex
Select the correct name for the following.
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Apparent Authority
The appearance or impression given by the actions of a person that they have the authority to act on behalf of another or an entity, leading others to reasonably believe such authority exists.
Express Agency
A relationship where the agent is explicitly given the authority to act on behalf of the principal, often through a written or verbal agreement.
Obligation
An obligation, either ethical or legal, to take a certain action or to avoid taking a particular action.
Terminates
Marks the end or conclusion of something, such as a contract, agreement, or employment.
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