Liability Is Imposed on an Agent Who Has Exceeded His

question 27

Multiple Choice

Liability is imposed on an agent who has exceeded his authority on the basis of a(n) :

• A) implied warranty of authority.
• B) actual warranty of authority.
• C) direct warranty of authority.
• D) definitive warranty of authority.

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Definitions:

Delegation

The process of assigning authority and responsibilities to others to carry out specific activities or tasks.

Assignment Effective

The point in time when a contractual assignment of rights or interests from one party to another becomes valid and enforceable.

Obligor

A person or entity legally obligated to provide a payment or service to another under the terms of a contract.

English Rule

A legal principle requiring the losing party in a lawsuit to pay the winner's attorney fees and court costs.