Exam 29: Agency Formation and Termination

Agency relationships created against public policy are void and unenforceable.

(True/False)

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Question 81

An express agency contract cannot be orally agreed upon.

(True/False)

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Question 82

If an agency terminates by operation of law,there is no duty to notify third parties about the termination.

(True/False)

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Question 83

Any property,money,or other benefit received by the agent in the course of an agency belongs to the principal.

(True/False)

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Question 84

Marcus employs a real estate broker,Dean,to sell his house.Dean's express powers are to advertise and market the house for sale,show the house to prospective buyers,and accept offers from them.He is not allowed to seal a deal without Marcus' consent.Marcus goes away on a month-long trip where he cannot be contacted.During this time,a short circuit in the house causes a power outage.Dean uses his authority to hire an electrician to repair the circuits and restore electricity in the house.Marcus then comes back and pays Dean for the repairs.What is the nature of the agency that Dean used to fix the problem in the house?

(Multiple Choice)

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Question 85

In an agency by ratification,the agent is relieved of any liability for misrepresentation.

(True/False)

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Question 86

A principal is bound legally to pay a gratuitous agent.

(True/False)

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Question 87

Showing 81 - 87 of 87

Exam 29: Agency Formation and Termination

Agency relationships created against public policy are void and unenforceable.

An express agency contract cannot be orally agreed upon.

If an agency terminates by operation of law,there is no duty to notify third parties about the termination.

Any property,money,or other benefit received by the agent in the course of an agency belongs to the principal.

In an agency by ratification,the agent is relieved of any liability for misrepresentation.

A principal is bound legally to pay a gratuitous agent.

Legal Environment of Business and Online Commerce

Courts and Jurisdiction

Judicial, alternative, and Online Dispute Resolution

Constitutional Law for Business and E-Commerce

Intentional Torts and Negligence

Product and Strict Liability

Intellectual Property and Cyber Piracy

Criminal Law and Cyber Crime

Nature of Traditional and E-Contracts

Agreement

Consideration and Promissory Estoppel

Capacity and Legality

Genuineness of Assent and Undue Influence

Statute of Frauds and Equitable Exceptions

Third-Party Rights and Discharge

Remedies for Breach of Traditional and E-Contracts

Digital Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Warranties

Creation of Negotiable Instruments

Holder in Due Course and Transferability

Liability, defenses, and Discharge

Banking System and Electronic Financial Transactions

Credit, mortgages, and Debtors Rights

Secured Transactions

Bankruptcy and Reorganization

Liability of Principals, agents, and Independent Contractors

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Labor Law

Equal Opportunity in Employment

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Corporate Governance and the Sarbanes-Oxley Act

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Limited Liability Companies and Limited Liability Partnerships

Franchises and Special Forms of Businesses

Investor Protection, e-Securities, and Wall Street Reform

Ethics and Social Responsibility of Business

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Consumer Protection and Product Safety

Environmental Protection

Antitrust Law and Unfair Trade Practices

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