Asked by James Copper on May 18, 2024
Verified
An agent's implied authority is derived from an agent's express authority and consists of what is reasonably necessary for carrying out the agent's grant of express authority.
Implied Authority
The authority of an agent that arises by inference from the words and actions of the principal.
Express Authority
The authority of an agent that arises when the principal explicitly instructs the agent to do something. Also called actual authority.
- Distinguish among expressed authority, implied authority, apparent authority, and agency ratified.
Verified Answer
AH
Alexis HernandezMay 24, 2024
Final Answer :
True
Explanation :
In an implied agency relationship,the agent has implied authority; that is,the relationship is inferred from the conduct of the parties.Consequently,the authority of the agent is implied on the basis of words and actions of the principal to the agent.An agent's implied authority is derived from an agent's express authority and consists of what is reasonably necessary for carrying out the agent's grant of express authority.
Learning Objectives
- Distinguish among expressed authority, implied authority, apparent authority, and agency ratified.