Question
Why can apparent authority bind a principal even without actual authority?
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Answer
The principal’s manifestations reasonably cause third-party reliance.
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Question
Why is an LLC often chosen over a C corporation?
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Answer
It gives limited liability with pass-through taxation and flexibility.
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Question
When is a disclosed principal liable on a contract with a third party?
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Answer
Usually the principal is liable; the agent generally is not.
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Question
What does the FCPA prohibit?
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Answer
Bribing foreign officials to obtain or retain business.
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