Asked by Vivian Terziario on Apr 24, 2024
A(n) ________ is a party who has authority to act on behalf of and bind another party.
A) agent
B) principal
C) warrantor
D) transferor
E) endorsee
Party Authority
The legal power or capacity of a party to enter into a binding contract or agreement.
Act On Behalf
The action of representing or making decisions for someone else or another entity.
- Comprehend the functions of both agent and principal within the realm of negotiable instruments, alongside the associated liability ramifications.
Learning Objectives
- Comprehend the functions of both agent and principal within the realm of negotiable instruments, alongside the associated liability ramifications.
Related questions
An Agent's Signature Can Create Liability for a Principal as ...
Can Prida's Jewelry Be Held Liable for the Note ...
Discuss Whether an Authorized Agent Can Be Held Personally Liable ...
Liam, Who Is Authorized to Draw Checks on Manufacturing Company's ...
An Agent Who Makes a Contract for a Disclosed Principal ...