65 Terms
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Marketing
Industry: Business services
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Marketing
Ratification
Business services; Marketing
Confirmation of a prior act that may not have been authorised but to which the principal agrees to be bound is called ratification.
Estoppel
Business services; Marketing
A legal doctrine that prevents a person from denying facts or suggestions that his or her conduct has suggested.
Respondeat superior
Business services; Marketing
A legal theory that imposes legal liability on an employer for the actions of the employee.
Constructive trust doctrine
Business services; Marketing
The theory that a partner who acquires profits for his own enrichment holds such funds for the benefit of the company as a whole and can be ordered to return such funds to the other partners.
Judicial dissolution
Business services; Marketing
A court's determination that a company should be dissolved for the good of the partners because the business has engaged in illegal activities.
Actual authority
Business services; Marketing
Actual authority refers to the specific instructions, rights, and parameters granted to the agent from the principal.
Agency
Business services; Marketing
A legally recognized, fiduciary relationship where one person acts on behalf of another. Agents act under the authority, consent of principal.
