logo image

BL Ch.17 T/F

If an agent has no authority but nevertheless contracts with a third party, the principal can be held liable on the contract
False
An agency by estoppel arises when the principal’s actions have created the appearance of an agency that does not in fact exist.
True
Under the law of agency, notice to the agent is notice to the principal.
A principal’s ratification of an agent’s unauthorized act must be express.
false
Under the doctrine of respondeat superior, an agent is liable for any harm caused to a principal by a third party.
An agent is authorized to act on behalf and instead of a principal in doing business with third parties.
true
Through agents, a principal can conduct only one business operation at a time.
false
The relationship between a principal and an independent contractor cannot involve an agency relationship.
false
If a principal is undisclosed, the agent may be liable to the principal for a third party’s nonperformance of a contract.
false
An agency can terminate once its purpose is achieved.
true
A principal has a duty to cooperate with the agent and to assist the agent in performing his or he duties.
true
Employment laws apply only to the employer-employee relationship.
true?
A person must have contractual capacity to be an agent.
false
A principal does not have the right to control an agent’s conduct in matters entrusted to the agent.
true
An agent’s duties to the principal are implied from the agency relationship only if the identity of the principal is disclosed to a third party.
Vicarious liability is direct liability.
false
An agency relationship is enforceable even if it is created for an illegal purpose.
A power of attorney can permit an agent to transact all business for a principal.
true
Agency relationships normally are consensual.
true
If a principal does not ratify an unauthorized contract, the principal is not bound.
true
The agent has the right to be compensated, and to be reimbursed and indemnified.
true
An agent has a duty to keep and make available to the principal an account of all property and funds received and paid out on the principal’s behalf.
true
A familiar example of an agent is the owner of a corporation.
true
An agency coupled with interest is a relationship created for the benefit of the principal.
true
An agency agreement can be implied by conduct.
Normally, employees who deal with third parties are not deemed to be agents.
true
An agent has the implied authority to do what is reasonably necessary to carry out express authority.
true
Independent contractors have no control over the details of their work performance.
false
For an agent’s implied authority to be effective, a principal must confirm it in writing.
false
Implied authority is authority declared in clear, direct, definite terms.
false
If a principal is disclosed, the agent may be liable to a third party for the principal’s nonperformance of a contract.
false?
An agency agreement can be created by an oral agreement.
true
Agency relationships only exist between employers and employees.
false?
An agent’s deviation from the lawful, clearly stated instructions of the principal is a violation of the duty of obedience.
true
If a principal ratifies a contract without knowing all of the facts, the principal can rescind the contract
true

Need essay sample on "BL Ch.17 T/F"? We will write a custom essay sample specifically for you for only $ 13.90/page

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy