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Implied authority
Implied authority The authority of an agent to perform acts which are reasonably necessary to accomplish the purpose of the agency.
RELATED TERMS--------------------------------------
Agent
Person authorized to act on behalf of another in dealings with third parties.
Agency
1) The relationship that exists when a person, known as the principal, contracts to another, the agent, to perform an act in that person's stead. 2) Common term for a firm offering representation.
SIMILAR TERMS--------------------------------------
Implied agency
An agency agreement created by the actions of the parties, and not a stated (written or verbal) agreement.
Implied agreement-contract
A contract under which the agreement of the parties is demonstrated by their acts and conduct.
Implied cap rate
Net operating income divided by the sum of a REIT's equity market capitalization and its total outstanding debt
Implied easement
When the owner of two or more adjacent properties sells a part thereof, he or she grants by implication all those apparent and visible easements which are necessary for the reasonable use of the property granted.
Implied warranty
A theory in landlord-tenant law in which the landlord renting residential property implies quiet enjoyment of the property or that the property is habitable.
PREVIOUS AND NEXT TERMS--------------------------------------
Illusory contract
An apparent contract that is not a contract because the parties have not agreed to be bound.
Impact fees
Money that local government collects from housing developers to pay for services that residents will need, such as schools, parks, road improvements and sewerage.
Impaired credit
A person with a less-than-perfect credit rating.
Implied agency
An agency agreement created by the actions of the parties, and not a stated (written or verbal) agreement.
Implied agreement-contract
A contract under which the agreement of the parties is demonstrated by their acts and conduct.
Implied authority
Implied cap rate
Net operating income divided by the sum of a REIT's equity market capitalization and its total outstanding debt
Implied easement
When the owner of two or more adjacent properties sells a part thereof, he or she grants by implication all those apparent and visible easements which are necessary for the reasonable use of the property granted.
Implied warranty
A theory in landlord-tenant law in which the landlord renting residential property implies quiet enjoyment of the property or that the property is habitable.
Impound account
Account held by a lender for payment of taxes, insurance or other related expenses.
Impounds
Money that is placed in an escrow account to pay for property taxes and insurance.
This dictionary contains 6433 terms. |
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