The two general classifications of authority an agent can possess are actual authority and implied authority.

Name: The two general classifications of authority an agent can possess are actual authority and implied authority.
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Quizplus · Accepted Answer

This statement is true; the two main types of authority that an agent can possess are actual authority (explicitly given by the principal) and implied authority (implicitly given or inferred from the circumstances).

The Two General Classifications of Authority an Agent Can Possess