Asked by Samantha Allen on May 27, 2024
Verified
An agent's implied authority is derived from the agent's ________ authority.
A) express
B) apparent
C) equitable
D) statutory
E) non-contractual
Implied Authority
The power of an agent to perform acts which are reasonably necessary to accomplish the purpose of an organization.
Express Authority
The power explicitly given to an agent or representative through a contract or agreement to perform certain actions.
Agent
An individual or entity authorized to act on behalf of another (the principal) in dealings with third parties.
- Understand the basic principles of agency relationships and authority types.
Verified Answer
ZK
Zybrea KnightJun 02, 2024
Final Answer :
A
Explanation :
An agent's implied authority is derived from the agent's express authority and consists of what is reasonably necessary for carrying out the agent's grant of express authority.
Learning Objectives
- Understand the basic principles of agency relationships and authority types.