Multiple Choice
Which of the following is a duty owed by a principal in an agency relationship?
A) reimburse the agent for out-of-pocket expenses
B) fiduciary duty to uphold the trust placed by the agent
C) retroactively acknowledge authority of agents
D) ratify all contracts within prescribed time limits
Correct Answer:
Verified
Correct Answer:
Verified
Q1: An agent who has been given permission
Q2: Outline the ways in which a principal
Q3: Identify under what circumstances an agent may
Q5: Which of the following terms is synonymous
Q6: A duty imposed on a person who
Q7: Although he was not really an agent
Q8: The employment contract of a manager of
Q9: Cory,the owner of ABC Industries,jokingly introduced his
Q10: The onus is on outsiders to inquire
Q11: Partners in a partnership are agents and