| 释义 |
actual authority
actual authority the express power granted to an agent (see AGENCY) by his principal. It appears also in PARTNERSHIP. Where it has been agreed between the partners that any restriction is to be placed on the power of any one or more of them to bind the firm, no act done in contravention of the agreement is binding on the firm with respect to persons having notice of the agreement.Actual Authority
Actual AuthorityThe legal authority a person has as the result of a law or contract. For example, the owner of a house has the actual authority to sell it because the law states that he is the owner. Likewise, the president of the United States has the actual authority to sign or veto legislation. Persons with actual authority are legally liable for their actions. Actual authority is distinct from apparent authority. It is also called express authority. |