How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask KellyV2012 Your Own Question

KellyV2012
KellyV2012, Bachelor's Degree
Category: Business and Finance Homework
Satisfied Customers: 308
Experience:  Business Administration Option is Accounting and Finance
64905050
Type Your Business and Finance Homework Question Here...
KellyV2012 is online now
A new question is answered every 9 seconds

Which best describes the types of agency authority held by

Resolved Question:

Which best describes the types of agency authority held by officers of a corporation?

A. Vicarious authority
B. Express and obvious authority
C. Implied and apparent authority only
D. Express, implied, and apparent authority
Submitted: 4 years ago.
Category: Business and Finance Homework
Expert:  KellyV2012 replied 4 years ago.
Hi,

The answer is D. Expess, Implied and Apparent authority.

Agency authority of corporate officers
Officers are agents of the corporation. They can have:

  • Express authority—authority derived from corporation statutes, articles of incorporation, bylaws, and resolutions of the board of directors.
  • Implied authority—authority implied from the position of the corporate officers and the facts and circumstances of the situation.
  • Apparent authority—authority arising when a third person is reasonably led to believe that an officer has authority to act when in fact the officer does not have express authority.
Thanks,
KellyV2012 and other Business and Finance Homework Specialists are ready to help you

Related Business and Finance Homework Questions