BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Expressed authority is a type of authority that occurs when it is clearly declared or granted verbally or in writing by the principal to the agent. For example, expressed authority relates to when an agent is given permission by the principal (in writing or verbally) to act or complete transactions on their behalf.

Detailed explanation-2: -Another type of authority is express authority (sometimes called actual authority), which is given in an oral or written contract. In the case of a real estate agent, for example, there is usually a written contract between the agent and the client.

Detailed explanation-3: -Express authority is the authority which the principal has expressly given to the agent whether orally or in writing. Implied authority (sometimes described as usual authority) is the authority of an agent to do acts which are reasonably incidental to and necessary for the effective performance of his duties.

Detailed explanation-4: -Actual authority refers to specific powers, expressly conferred by a principal (often an insurance company) to an agent to act on the principal’s behalf. This power may be broad, general power or it may be limited special power. Specific powers are also known as “express authority."