Officers of a corporation typically can have which types of agency authority?

Question

Quizplus · Accepted Answer

Officers of a corporation typically have express authority, which is explicitly granted to them in their position or through formal delegation; implied authority, which is granted by virtue of their position and is necessary to carry out their express authority; and apparent authority, which arises when the officer is held out by the corporation as having the authority to act, even if such authority was not actually granted. Therefore, officers of a corporation can have all three types of agency authority - express, implied, and apparent.

Officers of a Corporation Typically Can Have Which Types of Agency