In agency law there is a concept of "apparent authority and implied authority." What is the difference between?
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In agency law there is a concept of "apparent authority and implied authority." What is the difference between the two and give an example of the application of each
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Answer:
Apparent: Manager or agent representing the principal speaks and conducts his/her affairs in such a manner that the third party assumes he/she has authority over certain events. I.e. Third party signs a contract for a $40,000, but doesn't know the manager's limit is set to $10,000 by the principal. Implied: If I wear a company logo, t-shirt and pants, I'm assumed to work at that location and therefore a customer would be able to ask questions, etc...
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