Jennifer indicates that she is acting as an agent on behalf of an unidentified client when she enters into a contract for the sale of rareworks of art with Beth. This arrangement is best described asO a ully disclosed agencyO an undinclosed agencyO a non-existent agencyO a partially disclosed agency Phil and Quality Products Corporation have an agency agreement. Whether it is reasonable for Phil to believe that he has authority toenter a particular contract on Quality's behalf, is a question ofO special authorityO general authorityO implied authorityO apparent authority

In the above question Jennifer is acting as an agent on behalf of an unidentified client, which she…

Answered: Jennifer indicates that she is acting…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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4) Which of the following are the creations of agency:- 1. Express appointment II. Necessity III. Implied appointment IV. Ratification a) I, II & III b) I, III & IV c) II, III & IV d) All of above 5) Which of the following is NOT the example of an agency contract. a) Partners-Firm b) c) Doctor-Patient d) Husband-Wife Employer-Employee 6) which legislation governs the agency contract in Malaysia? a) Sale of Goods Act 1967 b) Hire Purchase Act 1957 c) Agency Regulation 2016 d) Contracts Act 1950
1. Suppose competitor firms in an industry gathered and shared certain data about costs. Under the Sherman Act, such action would likely be: a. per se illegal b. an illegal conspiracy under a rule of reason c. permissible if all information was made public d. permissible unless it could be shown that a market injury occurred .
QUESTION 1 Which of the following is a FALSE statement? A. The E-Sign Act completely prevents the use of electronic signatures for contracting on the Internet. B. If an employer wants to preserve the at-will employment status of his or her employees, the employer should insert disclaimers in its codes and handbooks that nothing therein can be construed to create an express or implied employment contract. C. A basic principle of the National Labor Relations Act is that employers cannot terminate employees in order to discourage or encourage union membership. D. “Going public” by a company offering to sell shares of stock to the public typically results in access to broader financial markets from which to obtain capital. QUESTION 2 1. The tort of assault and the tort of battery are: A. Two names for the exact same tort. B. Strict liability torts. C. Independent torts which can occur separately from one another. D. Require proof of each of the separate elements of negligence.…
The agency relationship occurs when one or more individuals(principal) hire another individual (agent) to perform services on behalf of the principal. 1. The causes of agency problems;
1. Life Company processes information furnished by others to transfer title to real estate from a seller to a buyer. In performing this task for a sale of land from Eren to Armin, the furnished information is mistaken. The contract between Eren and Armin that includes the mistake may be rescinded if the mistake concerns a. a detail on which the parties had a true “meeting of the minds.” b. a fact that is important and central to the contract. c. a third party, such as County Title. d. a term in the contract subject to only one reasonable interpretation.
Liability for Contracts. Thomas Huskin and hiswife entered into a contract to have their home remodeledby House Medic Handyman Service. Todd Hall signed thecontract as an authorized representative of House Medic. Itturned out that House Medic was a ctitious name for HallHauling, Ltd. the contract did not indicate this, however, andHall did not inform the Huskins about Hall Hauling. When acontract dispute later arose, the Huskins sued Todd Hall personally for breach of contract. Can Hall be held personallyliable? Why or why not? [Huskin v. Hall, 2012 WL 553136(Ohio Ct.App. 2012)] (See Liability in Agency Relationships.)

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