Exam 37: Agency Formation, Categories, and Authority
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Exam 12: Contracts for the Sale of Goods: Overview of Article 241 Questions
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Exam 17: UCC Article 2A: Lease Contracts45 Questions
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Exam 19: Definition, Creation, and Categories of Negotiable Instruments47 Questions
Exam 20: Negotiation, Endorsements, and Holder in Due Course48 Questions
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Exam 27: Choice of Business Entity and Sole Proprietorships32 Questions
Exam 28: Partnerships29 Questions
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Exam 30: Corporations: Formation and Organization24 Questions
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Exam 32: Overview of the Securities Market: Definition, Categories, and Regulation62 Questions
Exam 33: Regulation of Issuance: The Securities Act of 193366 Questions
Exam 34: Regulation of Trading: The Securities Exchange Act of 193444 Questions
Exam 35: Regulation of Corporate Governance45 Questions
Exam 36: Regulation of Financial Markets45 Questions
Exam 37: Agency Formation, Categories, and Authority35 Questions
Exam 38: Duties and Liabilities of Principals and Agents30 Questions
Exam 39: Employment at Will49 Questions
Exam 40: Employment Regulation and Labor Law41 Questions
Exam 41: Employment Discrimination39 Questions
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Exam 50: Intellectual Property13 Questions
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Mike calls Beth and asks her to referee a soccer game. Beth is not obligated to work the game. If she accepts the assignment and works the game, she is told the time of the game, she must wear an approved uniform, and she is paid a fee. Once on the field, she is in complete control. Beth would be considered what type of agent?
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(Essay)
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Correct Answer:
Beth is not regularly scheduled or required to work and is paid a per-game fee rather than a regular salary. She is not directly controlled by Mike, so she qualifies as an independent contractor.
Agency is described as a fiduciary relationship that results when a principal manifests consent to an agent to act on the principal's behalf subject to the principal's control.
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(True/False)
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Correct Answer:
True
Courts look to state __________ law and statutes for guidance in determining independent contractor status.
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(Multiple Choice)
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Correct Answer:
D
Courts look to state common law and statutes for guidance in determining independent contractor status.
(True/False)
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In Avanti Press v. Employment Department Tax Section, 274 P. 3d 190 (Or. Ct. App. 2012), the Oregon Court of Appeals:
(Multiple Choice)
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The consequences of a business owner or manager misclassifying an employee may be __________.
(Multiple Choice)
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The Restatements define the creation of an agency relationship in terms of consent and __________.
(Multiple Choice)
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Agents who act on behalf of a principal without receiving any compensation are called __________ agents.
(Multiple Choice)
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The person from whom an agent has received instruction and authorization and to whose benefit the agent is expected to perform and make decisions pursuant to an agency relationship is called the __________.
(Multiple Choice)
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Individual employees who are authorized to transact business on behalf of the employer/principal are called __________ agents.
(Multiple Choice)
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Agency is described as a __________ relationship that results when a principal manifests consent to an agent to act on the principal's behalf subject to the principal's control.
(Multiple Choice)
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When the agent initiates the termination, it is known as __________.
(Multiple Choice)
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Much of agency law exists on the state statutory level and is based on the Restatement (Second) of Agency.
(True/False)
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Many states have adopted the __________ test in their agency law as a standard for determining agency status.
(Multiple Choice)
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One who agrees to act and is authorized to act on behalf of another, a principal, to legally bind the principal in particular business transactions with third parties pursuant to an agency relationship is the __________.
(Multiple Choice)
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An agency transaction ends when the agency is terminated by the __________.
(Multiple Choice)
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Only an agent may end the agency through termination simply by communicating the desire to terminate the relationship.
(True/False)
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What company agreed to settle a class action lawsuit by paying approximately $100 million to roughly 385,000 drivers where drivers were claiming that they were actually employees under the California Labor Code and they should receive worker protections and benefits under California law?
(Multiple Choice)
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What agency created a three-prong test to determine an agent's status?
(Multiple Choice)
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