Which of the following statements is true of agency by estoppel?
A) It determines an agent's authority based on customs, circumstances, and the facts of a situation.
B) If a third person is led by a principal to believe that a certain individual is the principal's agent, it grants an agent the authority to act.
C) It is formed when a third party is unaware of the existence of a principal.
D) It occurs when an unauthorized agent commits a principal to an agreement and the principal accepts the unauthorized agreement.
Correct Answer:
Verified
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