Search results
Results from the WOW.Com Content Network
Business owners can avoid being liable by giving public notice of the termination of authority, and by contacting any individual third parties who would have had reason to know of such authority. In relation to companies, [2] the apparent authority of directors, officers and agents of the company is normally referred to as "ostensible authority".
The person doing business with such an entity, as if it were a limited liability entity or corporation, may later be estopped from arguing that it is not in fact a limited liability entity, in an attempt to reach the assets of the incorporators. For the same reason, defendants who had acted as a corporation will be estopped from denying ...
As such, it can be inferred by virtue of a position held by an agent. For example, partners have authority to bind the other partners in the firm, their liability being joint and several, and in a corporation, all executives and senior employees with decision-making authority by virtue of their position have authority to bind the corporation.
An "apparent" or "ostensible" authority, on the other hand, is a legal relationship between the principal and the contractor created by a representation, made by the principal to the contractor, intended to be and in fact acted upon by the contractor, that the agent has authority to enter on behalf of the principal into a contract of a kind ...
Implied Authority to contract is a legal term in contract law referring to the implied ability of an individual to make a legally binding contract on behalf of an organization by way of uniform or interaction with the public on behalf of that organization. [1]
After a long holiday season indulging in sweet treats and perhaps a few too many spirits, January can be a great time to reset and return to healthy habits. Dry January, a health campaign that ...
Such disputes may be resolved by reference to the 'last document rule', i.e. whichever business sent the last document, or 'fired the last shot' (often the seller's delivery note) is held to have issued the final offer and the buyer's organisation is held to have accepted the offer by signing the delivery note or simply accepting and using the ...
Spades is all about bids, blinds and bags. Play Spades for free on Games.com alone or with a friend in this four player trick taking classic.