Business Law: crossword puzzle **12 LETTER WORD** According to an old maxim in a
ID: 377694 • Letter: B
Question
Business Law: crossword puzzle
**12 LETTER WORD** According to an old maxim in agency law, if the agent has had _____ about something, “everything the agent knows … the principal also knows” (even if the agent never tells the principal).
**12 LETTER WORD** The act of creating an agency by adopting and accepting an action/contract that was previously unauthorized.
**9 LETTER WORD** Ordinarily, an agent cannot be sued if his principal breaches a contract, however if there is an undisclosed or partially disclosed _____, the agent CAN be sued by a third party
**7 LETTER WORD** The “Equal _____ Rule” says that if an agent will be dealing with any matters that have to be in writing under the Statute of Frauds rule… that the creation of the agency must also be in writing. Otherwise, it is perfectly ok to create an agency verbally.
Explanation / Answer
According to an old maxim in agency law, if the agent has had __NOTIFICATION___ about something, “everything the agent knows … the principal also knows” (even if the agent never tells the principal).
The act of creating an agency by adopting and accepting an action/contract that was previously unauthorized. - ___RATIFICATION___
Ordinarily, an agent cannot be sued if his principal breaches a contract, however if there is an undisclosed or partially disclosed __AUTHORITY__, the agent CAN be sued by a third party
The “Equal __DIGNITY__ Rule” says that if an agent will be dealing with any matters that have to be in writing under the Statute of Frauds rule… that the creation of the agency must also be in writing. Otherwise, it is perfectly ok to create an agency verbally.
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