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Ch 1-2: Principal

Types of principals

TermDefinition
Undisclosed principal Identity and existence of the principal are kept secret; All parties involved in dealings with the agent are led to believe the agent is the principal.
Partially disclosed principal Third parties know of the existence of the principal, but not their identity.
Disclosed principal Both the existence and identity of the principal are known to the third party.
Created by: userjoe
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