Authority that a third party may reasonably assume the agent possesses is called:

Question

Quizplus · Accepted Answer

Apparent authority refers to the authority that a third party may reasonably assume an agent possesses based on the actions or words of the principal. It is also known as ostensible authority. Express authority is authority that is explicitly granted to the agent through written or spoken words. Implied authority is authority that is necessary to carry out the express authority granted to the agent. Incidental authority is authority that is necessary to carry out the agent's duties but is not expressly granted. Equitable authority is authority granted to a person based on their position or relationship with the principal, rather than through express or implied authority.

Authority That a Third Party May Reasonably Assume the Agent