Question 1

A principal has a duty to pay an agent in a timely manner the customary compensation for services rendered.

Accepted Answer

A) True 
 B)False

Question 2

Ira serves in a representative capacity for Jett.Key is injured through Ira's negligence.Jett may be liable to Key if Ira's conduct occurred

Accepted Answer

A)  due to a propensity Jett was not and could not have been aware of. 
B)  during normal working hours. 
C)  in the course and scope of Ira's employment. 
D)  outside the parties' employment relationship. 
A)  due to a propensity Jett was not and could not have been aware of. 
B)  during normal working hours. 
C)  in the course and scope of Ira's employment. 
D)  outside the parties' employment relationship.

Question 3

The agent must maintain separate accounts for the principal's funds and for the agent's personal funds,but may intermingle these accounts.

Accepted Answer

A) True 
 B)False

Question 4

An agency relationship is based on the attributes of power,control,and financial self-interest-not the trust and confidence of a fiduciary relationship.

Accepted Answer

A) True 
 B)False

Question 5

The equal dignity rule requires that a principal and an agent act in good faith and with mutual respect in their dealings with each other.

Accepted Answer

A) True 
 B)False

Question 6

Ingmar asks Jess to contract with Kay's Lawn Service to maintain Ingmar's lawn.Jess orally agrees to do so.This is an agency by

Accepted Answer

A)  agreement. 
B)  estoppel. 
C)  operation of law. 
D)  none of the choices. 
A)  agreement. 
B)  estoppel. 
C)  operation of law. 
D)  none of the choices.

Question 7

Agency relationships cannot exist outside an employment,so agency law has a narrower reach than employment law.

Accepted Answer

A) True 
 B)False

Question 8

Darla serves in a representative capacity for Ellen's Botanicals.To accomplish the objectives of this relationship,Darla's authority can be implied by

Accepted Answer

A)  by contradiction. 
B)  by custom. 
C)  by any subjective measure. 
D)  none of the choices. 
A)  by contradiction. 
B)  by custom. 
C)  by any subjective measure. 
D)  none of the choices.

Question 9

In an agency relationship,one party called the principal agrees to represent or act for another called the agent.

Accepted Answer

A) True 
 B)False

Question 10

A truck driver who drives a company truck on a regular basis is most likely an employee.

Accepted Answer

A) True 
 B)False

Question 11

The duties that an agent owes a principal must be set forth in the agency agreement because they do not arise by operation of law.

Accepted Answer

A) True 
 B)False

Question 12

Using an agent provides benefits to a principal,but can also result in liability imposed on the principal.

Accepted Answer

A) True 
 B)False

A principal has a duty to pay an agent in a timely manner the customary compensation for services rendered.

Ira serves in a representative capacity for Jett.Key is injured through Ira's negligence.Jett may be liable to Key if Ira's conduct occurred

The agent must maintain separate accounts for the principal's funds and for the agent's personal funds,but may intermingle these accounts.

An agency relationship is based on the attributes of power,control,and financial self-interest-not the trust and confidence of a fiduciary relationship.

The equal dignity rule requires that a principal and an agent act in good faith and with mutual respect in their dealings with each other.

Ingmar asks Jess to contract with Kay's Lawn Service to maintain Ingmar's lawn.Jess orally agrees to do so.This is an agency by

Agency relationships cannot exist outside an employment,so agency law has a narrower reach than employment law.

Darla serves in a representative capacity for Ellen's Botanicals.To accomplish the objectives of this relationship,Darla's authority can be implied by

In an agency relationship,one party called the principal agrees to represent or act for another called the agent.

A truck driver who drives a company truck on a regular basis is most likely an employee.

The duties that an agent owes a principal must be set forth in the agency agreement because they do not arise by operation of law.

Using an agent provides benefits to a principal,but can also result in liability imposed on the principal.

Law and Legal Reasoning

Courts and Alternative Dispute Resolution

Ethics in Business

Business and the Constitution

Torts and Product Liability

Criminal Law and Cyber Crime

International and Space Law

Intellectual Property Rights

Internet Law, social Media, and Privacy

The Formation of Traditional and E-Contracts

Contract Performance, breach, and Remedies

Sales and Lease Law

Creditor-Debtor Relations and Bankruptcy

Employment, immigration, and Labor Law

Employment Discrimination

Business Organizations

Corporations

Investor Protection and Corporate Governance

Administrative Law

Consumer Protection

Environmental Law

Real and Personal Property

Antitrust Law and Promoting Competition

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Exam 14: Agency Relationships

A principal has a duty to pay an agent in a timely manner the customary compensation for services rendered.

Ira serves in a representative capacity for Jett.Key is injured through Ira's negligence.Jett may be liable to Key if Ira's conduct occurred

The agent must maintain separate accounts for the principal's funds and for the agent's personal funds,but may intermingle these accounts.

An agency relationship is based on the attributes of power,control,and financial self-interest-not the trust and confidence of a fiduciary relationship.

The equal dignity rule requires that a principal and an agent act in good faith and with mutual respect in their dealings with each other.

Ingmar asks Jess to contract with Kay's Lawn Service to maintain Ingmar's lawn.Jess orally agrees to do so.This is an agency by

Agency relationships cannot exist outside an employment,so agency law has a narrower reach than employment law.

Darla serves in a representative capacity for Ellen's Botanicals.To accomplish the objectives of this relationship,Darla's authority can be implied by

In an agency relationship,one party called the principal agrees to represent or act for another called the agent.

A truck driver who drives a company truck on a regular basis is most likely an employee.

The duties that an agent owes a principal must be set forth in the agency agreement because they do not arise by operation of law.

Using an agent provides benefits to a principal,but can also result in liability imposed on the principal.

Law and Legal Reasoning

Courts and Alternative Dispute Resolution

Ethics in Business

Business and the Constitution

Torts and Product Liability

Criminal Law and Cyber Crime

International and Space Law

Intellectual Property Rights

Internet Law, social Media, and Privacy

The Formation of Traditional and E-Contracts

Contract Performance, breach, and Remedies

Sales and Lease Law

Creditor-Debtor Relations and Bankruptcy

Employment, immigration, and Labor Law

Employment Discrimination

Business Organizations

Corporations

Investor Protection and Corporate Governance

Administrative Law

Consumer Protection

Environmental Law

Real and Personal Property

Antitrust Law and Promoting Competition

Filters