Which type of Agency Authority is given in writing?

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Multiple Choice

Which type of Agency Authority is given in writing?

Explanation:
Express Authority is the type of agency authority that is specifically granted in writing. This means that the principal (the person giving the authority) clearly delineates the agent's powers and responsibilities through a formal document. This often takes the form of a contract or an agreement that outlines exactly what actions the agent is authorized to take on behalf of the principal. The significance of express authority lies in its clarity and specificity. Because it is documented, there is a clear reference for both parties regarding what is expected, which helps avoid misunderstandings and disputes. It provides a legal foundation for the agent's actions and can be crucial in various situations where the agent's authority may be questioned. Other forms of authority, like implied authority and apparent authority, do not typically require a written grant. Implied authority arises from the nature of the agent's position or from the actions and context of the relationship, while apparent authority is based on the perception of third parties regarding the agent's powers, even if they have not been explicitly granted. General authority is a broader term that can encompass various types of authority but is not specifically delineated in writing as express authority is.

Express Authority is the type of agency authority that is specifically granted in writing. This means that the principal (the person giving the authority) clearly delineates the agent's powers and responsibilities through a formal document. This often takes the form of a contract or an agreement that outlines exactly what actions the agent is authorized to take on behalf of the principal.

The significance of express authority lies in its clarity and specificity. Because it is documented, there is a clear reference for both parties regarding what is expected, which helps avoid misunderstandings and disputes. It provides a legal foundation for the agent's actions and can be crucial in various situations where the agent's authority may be questioned.

Other forms of authority, like implied authority and apparent authority, do not typically require a written grant. Implied authority arises from the nature of the agent's position or from the actions and context of the relationship, while apparent authority is based on the perception of third parties regarding the agent's powers, even if they have not been explicitly granted. General authority is a broader term that can encompass various types of authority but is not specifically delineated in writing as express authority is.

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