Which of the following is false regarding classification of principals?
A)If the third party does not know that an agent is acting on behalf of a principal,an undisclosed principal is involved.
B)When the third party is aware that the agent is making an agreement on behalf of a principal and also knows who the principal is,the principal is a disclosed principal.
C)Classification of the principal is important because it helps determine the principal's liability.
D)An unidentified principal is in the same classification as a partially disclosed principal.
E)If the third party is aware of the principal's existence but not his or her identity,the principal is classified as a disclosed principal.

Question

Quizplus · Accepted Answer

A)If the third party is aware of the principal's existence but not his or her identity,we classify the principal as a partially disclosed principal.
B)If the third party is aware of the principal's existence but not his or her identity,we classify the principal as a partially disclosed principal.
C)If the third party is aware of the principal's existence but not his or her identity,we classify the principal as a partially disclosed principal.
D)If the third party is aware of the principal's existence but not his or her identity,we classify the principal as a partially disclosed principal.
E)If the third party is aware of the principal's existence but not his or her identity,we classify the principal as a partially disclosed principal.

Which of the Following Is False Regarding Classification of Principals