Exam 18: Agency Law

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Martin,who wants to sell his house,authorizes his concierge,William,to find a potential buyer and finalize a deal above a stipulated price.William contracts Chris,a real estate broker,and intends him to only find a potential buyer and send him or her over to William for the sale.Martin then contracts ReNowait Goodhouses,a home improvement company,to renovate the house.ReNowait completes its work and Martin pays the company.Chris then searches for a suitable buyer and finds one in George.George buys the house and Chris is paid for his services.In this scenario,what role does ReNowait Goodhouses perform?

(Multiple Choice)

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Question 141

The principal is not liable for an agent's negligence while the agent is on a dual-purpose mission.

(True/False)

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Question 142

If a person employs an architect to design the layout of his or her own home,it constitutes a(n)________ relationship.

(Short Answer)

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Question 143

A partially disclosed agency can be created by mistake.

(True/False)

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Question 144

Canton has listed his house for sale but cannot be present to take care of the sale,as he needs to go out of town.He intends to give his brother Stratham the power of attorney to just make decisions regarding the selling of his house while he is gone.What kind of power of attorney should Canton execute?

(Multiple Choice)

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Question 145

Dual agency occurs when an agent acts for two or more different principals in the same transaction.

(True/False)

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Question 146

A(n)________ is an agency that occurs when a principal and an agent do not expressly create an agency,but it is inferred from the conduct of the parties.

(Short Answer)

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Question 147

An agent does not owe a duty to notify the principal of important information he learns concerning the agency.

(True/False)

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Question 148

Which of the following is true about a durable power of attorney?

(Multiple Choice)

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Question 149

On the advice of her colleague,Stacey hires Harold,a lawyer and an independent contractor,to represent her in a court case.While driving to the courthouse to represent Stacey at trial,Harold negligently causes an automobile accident in which a bystander,Mildred,is severely injured.Who is liable to Mildred?

(Multiple Choice)

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Question 150

A duty that a principal owes to pay an agreed-upon amount to the agent either upon the completion of the agency or at some other mutually agreeable time is known as a principal's ________.

(Short Answer)

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Question 151

In a fully disclosed agency,the contract is between ________.

(Multiple Choice)

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Question 152

Showing 141 - 152 of 152

The principal is not liable for an agent's negligence while the agent is on a dual-purpose mission.

If a person employs an architect to design the layout of his or her own home,it constitutes a(n)________ relationship.

A partially disclosed agency can be created by mistake.

Dual agency occurs when an agent acts for two or more different principals in the same transaction.

A(n)________ is an agency that occurs when a principal and an agent do not expressly create an agency,but it is inferred from the conduct of the parties.

An agent does not owe a duty to notify the principal of important information he learns concerning the agency.

Which of the following is true about a durable power of attorney?

A duty that a principal owes to pay an agreed-upon amount to the agent either upon the completion of the agency or at some other mutually agreeable time is known as a principal's ________.

In a fully disclosed agency,the contract is between ________.

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