An Agent Need Not Disclose the Fact That He Is

question 136

True/False

An agent need not disclose the fact that he is acting for a principal in dealings with a third party, and that contract may still be binding on that third party.

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Definitions:

Merchandise

Goods or products that are bought, sold, or traded in the retail environment.

Foreign Exchange Gain

A foreign exchange gain occurs when a company holds assets or liabilities in foreign currencies and the value of these increases due to favourable changes in exchange rates.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net income.

Interest-Bearing Note

A debt instrument that obliges the issuer to pay interest to the holder on the principal amount until maturity.