Question 1

Match the following:
-apparent authority

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. M

Question 2

Match the following:
-ratification

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. O

Question 3

Match the following:
-agency by estoppel

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. B

Question 4

Match the following:
-agency coupled with an interest

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 5

Match the following:
-duty to account

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 6

Match the following:
-indemnification

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 7

Match the following:
-unidentified principal

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 8

Match the following:
-fiduciary duty

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 9

Match the following:
-duty of diligence

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 10

Match the following:
-respondeat superior

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 11

Match the following:
-power of attorney

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 12

Match the following:
-actual authority

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 13

Match the following:
-independent contractor

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 14

Match the following:
-agency

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Question 15

Match the following:
-undisclosed principal

Accepted Answer

A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent. 
A) A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an
expense while acting on behalf of the principal. 
B) Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent. 
C) A consensual relationship authorizing one party to act for and on behalf of another party. 
D) Responsibility of an agent to keep and render to the principal a record of money or other property received or
paid out on the principal's behalf. 
E) The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.
F)The formal, written appointment of an agent.
G)Person who agrees to do a particular job and who is not subject to the other's control over the manner and
means of conducting the work.
H)A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.
I)A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.
J)Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.
K)A principal of whom a third party has no knowledge, because he has no reason to believe the agent is acting for a principal.
L)An irrevocable agency relationship.
M)Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.
N)A principal that a third party knows exists but does not know who it is; partially disclosed.
O)The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.

Exam 53: Agency

Match the following: -apparent authority

Match the following: -ratification

Match the following: -agency by estoppel

Match the following: -agency coupled with an interest

Match the following: -duty to account

Match the following: -indemnification

Match the following: -unidentified principal

Match the following: -fiduciary duty

Match the following: -duty of diligence

Match the following: -respondeat superior

Match the following: -power of attorney

Match the following: -actual authority

Match the following: -independent contractor

Match the following: -agency

Match the following: -undisclosed principal

Introduction to Law

Business Ethics and the Social Responsibility of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remedies

Relationship of Principal and Agent

Relationship With Third Parties

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Products Liability: Warranties and Strict Liability in Tort

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature, Formation, and Powers

Financial Structure

Management Structure

Fundamental Changes

Secured Transactions and Suretyship

Bankruptcy

Protection of Intellectual Property

Antitrust

Consumer Protection

Employment Law

Securities Regulation

Accountants Legal Liability

Environmental Law

International Business Law

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Decedents Estates

the Legal Environment of Business

Contracts

Sales

Negotiable Instruments

Unincorporated Business Associations

Corporations

Debtor and Creditor Relations

Regulation of Business

Property

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