| Term | Definition |
|---|
| the general agent's wide discretionary powers | The authority granted to a general agent can be distinguished from that granted to a special agent by |
| is liable for any damages sustained thereby | An agent who severs his relationship with his principal before the time specified for termination of the agency relationship |
| A proxy is | a representative |
| ostensible authority | Apparent authority is often referred to as |
| Which is charecteristic of preferred stock | Shareholders receive dividends at a fixed annual rate. |
| special endorsement | An endorsement specifying to whom an instrument is payable is called a |
| an endorsement in blank | An endorsement making an instrument payable to the bearer is |
| de jure dissolution | A dissolution by judicial decree is a |
| contain an unconditional promise to pay a specific sum | To be negotiable, an instrument must |
| holder | One to whom a negotiable instrument is delivered is called a |
| drawee | The accpetor of a negotiable instrument is the |
| The term ultra vires means | beyond the powers |
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