An individual that holds himself out to be one of authority to perform a duty of which the authority was never granted. Such person taking the ostensible authority he or she may have caused a lender to advance funds or act in a manner which would normally be considered inappropriate, if the lender was aware of the actual authority this individual possesses.
An individual who assumes authority for a funding project without being granted such authority
That authority which a third person reasonably believes an agent possesses because of the acts or omissions of the principal.