Exam 33: Agency Liability and Termination

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Security Armored Car Corporation employs Theo as an agent. Without Security's knowledge but otherwise acting within the scope of employment, Theo commits a crime. The state can successfully prosecute

(Multiple Choice)

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Question 21

Tropical Vittles, LLC, hires Sophie to act as its agent to buy a ten-acre tract of land from Rico for $1,000 per acre. Tropical Vittles does not want Rico to know that it is the principal or that Sophie is its agent. Tropical Vittles wants the land for a new fast-food restaurant, and believes that Rico may not sell the land for that purpose or may demand a premium price. Sophie makes the purchase, signing only her name to the contract as the buyer and not disclosing to Rico the agency relationship. The transfer of the deed is to occur on May 1. Rico learns of Tropical Vittles's identity on April 15. Can Rico legally refuse to deed the property on May 1 Explain.

(Essay)

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Question 22

A partially disclosed principal is liable to a third party for a contract made by the agent acting within the scope of his or her authority.

(True/False)

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Question 23

An agent's authority to act on behalf of a principal must be actual and apparent.

(True/False)

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Question 24

Frida hires Gert, a real estate broker, to act as her agent to sell her house. The house burns down before being sold. The agency agreement is likely

(Multiple Choice)

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Question 25

BizOnline.com uses an electronic agent, or e-agent, to perform certain tasks in e-commerce. With respect to the e-agent's actions, BizOnline.com is bound by

(Multiple Choice)

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Question 26

Sonia manages a Tasty Pastry store for United Food Company. To manage the business, Sonia's authority can be implied by

(Multiple Choice)

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Question 27

Rupert, an agent for Star Productions, Inc., enters into an unauthorized contract with Theatrical Transport Corporation purportedly on behalf of Star, which refuses to perform. Rupert is liable

(Multiple Choice)

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Question 28

Emery is an agent for Downtown Market Corporation. Emery makes an innocent misrepresentation when entering into a contract on behalf of Downtown Market with Cool Fruits, Inc. Cool Fruits

(Multiple Choice)

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Question 29

An agency coupled with an interest is an agency created for the agent's benefit.

(True/False)

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Question 30

A power of attorney can be special or general.

(True/False)

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Question 31

Fabulous Auto Sales, Inc., employs GR8 Collection Company as a collection agent. While repossessing a car from Hadji, one of Fabulous's customers, GR8 causes an accident in which Hadji is injured. Hadji can recover from

(Multiple Choice)

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Question 32

Clive is a purchasing agent for Double D Ranch with the authority to buy cattle at a certain auction. After the cattle are bought, the agency relationship terminates

(Multiple Choice)

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Question 33

Fact Pattern 33-1A Ulani indicates that she is acting as an agent on behalf of an unidentified client—Thoroughbred Stallions, LLC—when she enters into a contract with Shana. -Refer to Fact Pattern 33-1A. Liability to Shana for nonperformance of the contract may be imposed on

(Multiple Choice)

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Question 34

An agent's implied authority can contradict his or her express authority.

(True/False)

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Question 35

An agent's authority must be express for the agent's act to bind a principal.

(True/False)

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Question 36

Omar hires Petra, a real estate broker, to act as his agent to sell his land for $150,000. Oil is discovered beneath the land, causing its market value to increase considerably. The agency agreement is likely

(Multiple Choice)

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Question 37

A principal whose identity is known by a third party with whom an agent contracts on the principal's behalf is a disclosed principal.

(True/False)

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Question 38

Before a principal can ratify a contract, the third party must withdraw from the deal.

(True/False)

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Question 39

Based on Nan's conduct, Odel reasonably believes that Poppy has the authority to act on Nan's behalf even though Poppy does not have the actual authority to do so. In this circumstance, Poppy has

(Multiple Choice)

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Question 40

Showing 21 - 40 of 42

Exam 33: Agency Liability and Termination

Security Armored Car Corporation employs Theo as an agent. Without Security's knowledge but otherwise acting within the scope of employment, Theo commits a crime. The state can successfully prosecute

A partially disclosed principal is liable to a third party for a contract made by the agent acting within the scope of his or her authority.

An agent's authority to act on behalf of a principal must be actual and apparent.

Frida hires Gert, a real estate broker, to act as her agent to sell her house. The house burns down before being sold. The agency agreement is likely

BizOnline.com uses an electronic agent, or e-agent, to perform certain tasks in e-commerce. With respect to the e-agent's actions, BizOnline.com is bound by

Sonia manages a Tasty Pastry store for United Food Company. To manage the business, Sonia's authority can be implied by

Rupert, an agent for Star Productions, Inc., enters into an unauthorized contract with Theatrical Transport Corporation purportedly on behalf of Star, which refuses to perform. Rupert is liable

Emery is an agent for Downtown Market Corporation. Emery makes an innocent misrepresentation when entering into a contract on behalf of Downtown Market with Cool Fruits, Inc. Cool Fruits

An agency coupled with an interest is an agency created for the agent's benefit.

A power of attorney can be special or general.

Fabulous Auto Sales, Inc., employs GR8 Collection Company as a collection agent. While repossessing a car from Hadji, one of Fabulous's customers, GR8 causes an accident in which Hadji is injured. Hadji can recover from

Clive is a purchasing agent for Double D Ranch with the authority to buy cattle at a certain auction. After the cattle are bought, the agency relationship terminates

Fact Pattern 33-1A Ulani indicates that she is acting as an agent on behalf of an unidentified client—Thoroughbred Stallions, LLC—when she enters into a contract with Shana. -Refer to Fact Pattern 33-1A. Liability to Shana for nonperformance of the contract may be imposed on

An agent's implied authority can contradict his or her express authority.

An agent's authority must be express for the agent's act to bind a principal.

Omar hires Petra, a real estate broker, to act as his agent to sell his land for $150,000. Oil is discovered beneath the land, causing its market value to increase considerably. The agency agreement is likely

A principal whose identity is known by a third party with whom an agent contracts on the principal's behalf is a disclosed principal.

Before a principal can ratify a contract, the third party must withdraw from the deal.

Based on Nan's conduct, Odel reasonably believes that Poppy has the authority to act on Nan's behalf even though Poppy does not have the actual authority to do so. In this circumstance, Poppy has

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Capacity and Legality

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The Statute of Frauds

Third Party Rights

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Breach of Contract and Remedies

The Formation of Sales and Lease Contracts

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