Question

"In a situation in which a third party is aware a principal is involved and also...

"In a situation in which a third party is aware a principal is involved and also knows who the principal is, the principal is liable to the third party but the agent is not, regardless of whether the agent has express, implied, or apparent authority." So, for the customers to get into the deepest pocket, they need to prove that they were aware of the principal. How might they do that?

Homework Answers

Answer #1

In a situation where there is an agent who takes care of the transactions and dealings of the Principal conducts the operations on behalf of the principal because he is not the owner and he is representing a person and details and documents regarding the same needs to be furnished and the other party also has to be aware that the agent is representing an individual who is the principal and therefore in order to prove the same they need to have the documents with them and use them as proof in case of any need in the process.

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