There are three types of authority often used in business transactions such as real estate: express, implied and apparent.
In a situation of apparent power, this means that the person’s behavior gives the impression that he is allowed to act in the interests of the principal.
When a real estate agent signs a document with a client, that agent is given the implied authority to act on the seller’s behalf.
Direct authorization occurs when an agent works on behalf of his company to act on behalf of the principal. For example, a life insurance agent may have explicit authority within their company.
Performance Based Management (ABM) is a means of analyzing a company’s profitability by looking at every aspect of its business to determine its strengths and weaknesses.
ASO-based self-financing plans are common among large firms because they can spread the risk of costly claims over a large number of employees and dependents.
Comprehensive loss insurance is designed to protect an employer that is self-funding its employee health plan from higher-than-expected claims payments.
A collision clause between ships is a clause in an insurance policy that states that both ship owners must share liability for a collision between ships if the wreck was due to negligence.
Share capital is the number of ordinary and preferred shares that the company has the right to issue and which are accounted for on the balance sheet as part of share capital.
Carriage and insurance paid until when the seller pays the freight and insurance to deliver the goods to the party appointed by the seller at the agreed place.
The cost of capital represents the return that a company must earn to justify the cost of a capital project such as buying new equipment or constructing a new building.