The Only Situation Where an Agent Can Be Sued by a Third

question 71

True/False

The only situation where an agent can be sued by a third party is where he has gone beyond his apparent and actual authority.

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Definitions:

Accounting Equation

The fundamental equation of double-entry bookkeeping, stating that assets equal liabilities plus equity.

Office Equipment

Tangible items used in an office setting, such as computers, desks, and chairs, necessary for daily operations.

Liabilities

Financial obligations or debts that a company owes to external parties, which must be settled over time through the transfer of economic benefits.

Accounts Receivable

The money owed to a business by its clients or customers for goods or services provided on credit.