Asked by Chris Turner on Jul 11, 2024
Verified
Authority to manage a business implies authority to do what is reasonably required to operate the business.
Authority to Manage
Refers to the power or right delegated to an individual or group to make decisions and oversee the administration of an organization, property, or legal entity.
- Identify distinct kinds of authority, including actual, implied, and apparent, and assess their implications for the principal-agent relationship.
Verified Answer
SY
sohail yousafJul 17, 2024
Final Answer :
True
Explanation :
Authority to manage a business typically includes the power to perform acts that are reasonably necessary to carry out the business's operations, even if those specific acts are not explicitly mentioned in the authority granted.
Learning Objectives
- Identify distinct kinds of authority, including actual, implied, and apparent, and assess their implications for the principal-agent relationship.