Asked by Alexa Warson on Apr 28, 2024
Verified
What is the nature of the principal if a third party knows that the agent is acting for the principal and also is aware of the principal's identity?
A) Unidentified
B) Nonexistent
C) Disclosed
D) Undisclosed
Disclosed Principal
In the realm of agency law, a principal whose identity the third party is aware of when the agent enters into a contract with that third party.
- Distinguish between the obligations of known and unknown principals.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
C
Explanation :
A principal is disclosed if a third party knows or has reason to know that the agent is acting for a principal and the principal's identity.
Learning Objectives
- Distinguish between the obligations of known and unknown principals.