Answer to Question #253699 in Management for Andrew-John

Question

Give a word or phrase for each of the following

1.5 A formal written authority, setting out the scope of the agentà ƒ ƒ ¢ € ™s authority and signed by the principal.

1.6 If a person represents by words or conduct that another person is his agent, and a third person reasonably and bona fide acts on that representation to his prejudice, then the person who so represented will be liable to such contract on this ground.

1.7 The rule that states that the seller will be relieved of his/her duty to deliver if performance becomes impossible due to supervening circumstances, while the purchaser will still be liable for the purchase price if the contract is perfecta.

Answer 1

1.5 contract formation

1.6 Express

1.7 Applied