business law Collin College -FBLA Business Law questions n answers

business law Collin College -FBLA Business Law questions n answers acceptance - correct answer The second party's unqualified willingness to go along with the first party's proposal accord and satisfaction - correct answer A legal way to settle contractual disputes by which one party agrees to accept less than the amount due as full payment actual authority - correct answer The real power a principal gives to an agent actual notice - correct answer A formal notice given directly to a party, usually using certified mail with a receipt adhesion contract - correct answer A take-it-or-leave-it offer made by a party who holds most of the power in a bargaining session administrative law - correct answer The body of rules created by government agencies adultery - correct answer When one spouse has sexual relations with someone outside of marriage affinity - correct answer Related by marriage agency - correct answer A type of working relationship in which one person represents another person in a business transaction with a third party agency by estoppel - correct answer When the principal's actions lead the third party to believe that the agent is working for the principal agent - correct answer The person who has been authorized to do the work