Exam 21: Agency Relationships

Kady,an agent for Lebron,enters into a contract on Lebron's behalf with Madge that must be in writing to be enforceable under the Statute of Frauds.Kady's authority to enter into this contract is not in writing.Under the equal dignity rule,this contract is

Oscar is Precise Service Company's chief executive officer.On Precise's behalf,Oscar solicits business,hires and fires workers,and handles the finances.Precise pays Oscar varying amounts,depending on his "needs." Oscar is most likely

Dizzy is not Edwina's agent but enters into a contract with Frida on Edwina's behalf.Edwina later contacts Frida to approve the contract.This is

Without authorization,Rolf contracts on behalf of Sari to have Tige paint the interior and exterior of Sari's house.Sari ratifies the contract.Later,Sari tries to rescind the part of the contract relating to the exterior.This attempt will be

Genetic Seed Company hires Howie to work on Genetic's shipping dock,accepting deliveries and dealing with other companies' drivers.With respect to Genetic,Howie is most likely

Cory employs Daily Delivery Agency as an agent under a written agreement that describes the rights and duties of both parties.This is

The equal dignity rule does not apply to a corporate officer who,in an ordinary business situation,acts on behalf of his or her firm.

A principal is responsible for all intentional torts committed by an agent.

A principal is not liable to a third party for any contract made by the agent acting outside the scope of his or her authority.

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

All employment laws apply to independent contractors.

Louis,a certified public accountant and an investor,and Maria,an insurance salesperson and a realtor,may create an agency relationship for

KupaJava hires Lola to manage one of KupaJava's seven drive-through coffee stands.KupaJava agrees to pay Lola a salary,plus commission.KupaJava stipulates the standards that should be observed,the goals that should be attained,and the methods that should be used.Lola is most likely KupaJava's

An agency can terminate once its purpose is achieved.

An independent contractor can be an agent for his or her employer.

Trey,an agent for Uno Music Corporation,executes an unauthorized contract with Variety Recording,Inc. ,that is highly advantageous to Uno.Variety withdraws from the deal before Uno ratifies the contract.The contract is

Under the doctrine of respondeat superior,an agent is liable for the principal's negligence.

Bud approves on behalf of Cody-but without authorization-a contract with Dik to build a new silo.Cody does not ratify the contract.Later,Dik tries to enforce the deal.This attempt will be

A principal owes an agent a duty of accounting.

An agency relationship may not occur by operation of law in a family.