Chapter 21 vocab

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Law

11th

Last updated 1:29 AM on 5/8/23
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4 Terms

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Agency
A relationship between two parties created by implied or an express agreement by law, that empowers one of the parties by word or action to legally blind one another
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Principal
One who authorizes another to enter into legal relationships, and his or her behalf
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Agent
One who is in power to alter the legal relations of another
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Warranty of the principles capacity
Assumption of the law that the agent promises the third-party that the principal has capacity