Nora Has Entered into a Joint Venture with Scott to Sell

Multiple Choice

Nora has entered into a joint venture with Scott to sell diet supplements.They have set up a corporation to carry on the business.They are the sole shareholders and directors.Nora is the president.Which of the following are TRUE?

A) Nora is not an agent of the joint venture because the participants in a joint venture cannot be agents.
B) Nora is an agent of the joint venture with the authority that would be usual for a president to have.
C) Nora is liable as a principal for all obligations of the joint venture business.
D) Nora can only bind the corporation to contracts that are within her actual authority.
E) Nora can only bind the corporation to contracts that Scott has expressly consented to.