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Which of the following is true when the existence and identity of a principal in an agency relationship have been disclosed to a third party?
Which of the following is true when the existence and identity of a principal in an agency relationship have been disclosed to a third party? Select all that apply
The principal is liable to the third party for all contracts entered into by the agent acting within the scope of his authority.
A disclosed principal must hold harmless a promise to pay any costs or claims if the third party sues the agent.
If an agent acts outside his authority, the principal must still be liable to the third party.
Now that the principal is known and disclosed, the third party must refer directly to the principal, not the agent, for all contract agreements.
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