Multiple Choice
What is the primary purpose of an agent in a principal-agent relationship?
A) protect the principal from legal liability
B) conduct business on behalf of the principal
C) enter into contracts with the principal
D) operate as a partner with the principal
E) maintain the principal's status quo
Correct Answer:
Verified
Correct Answer:
Verified
Q7: An agency can arise in any of
Q8: An agent negotiates a contract with a
Q9: Even if the home countries of the
Q10: The president of a corporation usually has
Q11: A partially-disclosed agency exists where the third
Q13: Which of the following is true about
Q14: Express agency is the most common form
Q15: The "frolic and detour" rule states that
Q16: A general power of attorney confers broad
Q17: Through agency by ratification,the principal is bound