An Agent Does Not Have the Power to Act Without

question 20

True/False

An agent does not have the power to act without communicating with the principal even if an unforeseen emergency demands action.

Know the differences between directional and nondirectional hypotheses and tests.

Understand the process of hypothesis testing including the role of the null hypothesis.

Comprehend the significance of sampling error in research.

Recognize the importance of sample representativeness for generalizability.

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Definitions:

Assignment Form

A legal document used to transfer rights or interests from one party to another.

Privity of Contract

The principle that a contract is a private agreement between the contracting parties only, and as such, only these parties have rights and obligations under the contract.

Incidental Beneficiary

One who unintentionally gains a benefit from a contract between other parties.

Donee Beneficiary

A third party who benefits from a contract in which a promisor agrees to give a gift to the third party.