Apparent Show
Apparent authority is the appearance or assumption of authority based on the actions, words, or deeds of the principal, or because of circumstances the principal created. For example, providing an individual with a rate book, application forms, and sales literature creates the impression that an agency relationship exists between the insurer and the individual. What is the term for a party to a contract who transfers her or his rights under the contract to a third party?assignor. In a contract, the party who transfers his or her rights to a contract to a third party (an assignee), giving the assignee the right to collect what was contractually agreed on in the original contract.
What is implied authority defined as quizlet?What is implied authority defined as? Authority that is not specifically given to an agent in the agency contract, but that an agent can reasonably assume to carry out his/her duties.
What is the term for a contract written by one party on a take it or leave it basis?A take it or leave it contract is also called a contract of adhesion, and it means that the agreement cannot be negotiated. The party being offered the agreement either accepts or denies the agreement, but they cannot make a counteroffer.
When the words in a contract have more than one meaning they are cut from the contract?Plain language laws regulate some types of contracts to require "legalese." A reasonable, lawful, and effective meaning will normally be given to all of a contract's terms. When the words in a contract have more than one meaning, they are cut from the contract. An agreement is evidenced by a single event: an offer.
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What is the term for the contract written by one party by a take it or leave it basis quizlet?
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