Exam 29: Agency Formation and Termination

A(n) ________ is a relationship formed when an employer hires an employee and gives that employee authority to act and enter into contracts on his or her behalf.

(Multiple Choice)

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Question 81

An express agency agreement that is often used to give an agent the control to sign legal documents on behalf of the principal is known as a(n) ________.

(Multiple Choice)

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Question 82

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

(Multiple Choice)

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Question 83

A special power of attorney empowers the agent to act in any matters on the principal's behalf without limitation.

(True/False)

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Question 84

Agency can be implied from the conduct of the involved parties.

(True/False)

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Question 85

Ronald, the purchasing manager of Tellys Supermarket in Georgia, was asked to purchase an order of the latest videogame console, FunCase, to keep in the supermarket. However, due to a truckers' strike, he had to make a trip to the FunCase warehouse, which was in Florida. Ronald paid for the trip himself, went to the warehouse, procured the shipment, and returned. After he got back, Tellys Supermarket paid Ronald for the trip he made to Florida. What duty of the principal did Tellys Supermarket perform when they paid Ronald for the trip to Florida?

(Multiple Choice)

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Question 86

Showing 81 - 86 of 86

Exam 29: Agency Formation and Termination

A(n) ________ is a relationship formed when an employer hires an employee and gives that employee authority to act and enter into contracts on his or her behalf.

An express agency agreement that is often used to give an agent the control to sign legal documents on behalf of the principal is known as a(n) ________.

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

A special power of attorney empowers the agent to act in any matters on the principal's behalf without limitation.

Agency can be implied from the conduct of the involved parties.

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