Which of the following statements is true about the power of attorney?
A) For business purposes, an agent's authority is determined by customs, circumstances, and the facts of a situation rather than a written or oral agreement.
B) It permits a principal to deny that someone is the principal's agent after leading a third party to believe that the person is an agent.
C) It is formed when an unauthorized act of an agent is accepted by a principal.
D) It gives an agent the authority to sign legal documents on behalf of a principal.
D
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According to corporate charters, the legal line of authority for a company runs from the state, to directors, to managers, and to shareholders of the company in this sequence.
a. true b. false
In a deed of trust, the borrower is
a. the trustor. b. the trustee. c. the beneficiary. d. the holder.