Chapter 17b
2 Pages

Chapter 17b

Course Number: BUSINESS 101, Spring 2013

College/University: Utah Valley University

Word Count: 871

Rating:

Document Preview

Business Law & Ethics- Chapter 17b TRUE/FALSE QUESTIONS 1. T An employee may act in the capacity of an agent. 2. T A minor can be an agent. 3. T A principal can ratify an agreement made without authorization on his or her behalf by one who is not his or her agent. 4. T A principal owes his or her agent a duty to act in good faith. 5. T Generally, a principal has a duty to pay an agent for services rendered. 6....

Unformatted Document Excerpt
Coursehero >> Utah >> Utah Valley University >> BUSINESS 101

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Law Business & Ethics- Chapter 17b TRUE/FALSE QUESTIONS 1. T An employee may act in the capacity of an agent. 2. T A minor can be an agent. 3. T A principal can ratify an agreement made without authorization on his or her behalf by one who is not his or her agent. 4. T A principal owes his or her agent a duty to act in good faith. 5. T Generally, a principal has a duty to pay an agent for services rendered. 6. T A principals liability in a contract with a third party may arise from the authority given to the agent to act on behalf of the principal. 7. F An agents authority must be implied for the agents act to bind a principal. 8. F A principal must ratify a contract to be bound to it. 9. T If an agent acts within the scope of authority, a partially disclosed principal is liable to a third party for contracts made by the agent. 10. T When a principal places an agent in a position to defraud a third party, the principal is liable for the agents fraudulent acts. 11. T A principal cannot be held liable for an agents crime. 12. T When the specific subject matter of agency is lost or destroyed, the agency terminates. MULTIPLE-CHOICE QUESTIONS Fact Pattern 17-1 (Question 13 applies) Roz and Sara work as clerks in Trinas Hot Clothes Shop. Trina withholds federal taxes from their pay, and controls the methods and details of the performance of their work. Roz and Sara are not authorized to modify the prices or other terms of a sale at the shop. 13. Refer to Fact Pattern 17-1. At the shop, Roz and Sara are 14. 15. 16. a. independent contractors. b. not Trinas agents or employees, or independent contractors. c. Trinas agents and employees. d. Trinas employees only. Irma retains Jerry as her authorized agent, unaware that Jerry is a minor. Jerry enters into a contract with Ken on Irmas behalf. The contract is a. binding on Irma. b. binding on Jerry and Ken, but not Irma. c. binding on Ken, but not Irma or Jerry. d. void. Jay holds himself out as possessing special accounting skills. As an agent, he must exercise the degree of skill or care expected of a. a person having those skills. b. an average, unskilled person. c. a reasonable person. d. the principal. Internet Services, Inc., employs Joe as an agent. During the agency, Joe acquires new skills. After the termination of the relationship, Joe uses those skills in a new job. Joe has breached a. b. c. d. no duty. the duty of loyalty. the duty of notification. the duty of performance. 17. 18. 19. 20. 21. 22. 23. 24. Regional Inc., Products, hires Sam to act as its agent. Tina sues Regional for Sams negligent conduct. Regionals right to sue Sam for an equal amount of damages is the right of a. avoidance. b. cooperation. c. indemnification. d. reimbursement. Lyn may hire employees to work in the Main St. Computer Store that she manages despite the fact that her employment agreement with Main St. says nothing about her being able to hire employees. This is a. apparent authority. b. equal authority. c. express authority. d. implied authority. Elin, an agent for First Credit Corporation (FC), enters into an unauthorized contract with Great Expectations, Inc. (GE), purportedly on FCs behalf. This contract will be enforceable if it is ratified by a. any third party. b. Elin. c. FC. d. GE. BizOnline.com uses an electronic agent, or e-agent, to perform certain tasks in e-commerce. With respect to the eagents actions, BizOnline.com is bound by a. all of the actions. b. only those actions of which BizOnline.com is aware. c. only those actions that BizOnline.com does not refute within ten days. d. only those actions that BizOnine.com ratifies. Elle is an agent for Fresh Food Corporation. Elle makes a misrepresentation when entering into a contract on behalf of Fresh with Gala Grocery Stores, Inc. Gala a. is estopped from performing the contract. b. may rescind the contract. c. must perform the contract. d. must ratify the contract. Common Carrier Corporation (CCC) employs Don as an agent. Without CCCs knowledge but otherwise acting within the scope of employment, Don commits a crime. The state can successfully prosecute a. CCC only. b. CCC or Don. c. Don only. d. neither CCC nor Don. Ida hires Jim, a real estate broker, to act as her agent to sell her land for $10,000. Oil is discovered beneath the land, causing its market value to increase one hundred-fold. The agency agreement is likely a. still in force if Ida gives Jim additional consideration. b. still in force if Jim does not mention the oil to prospective customers. c. terminated by mutual consent of the parties. d. terminated by operation of law. Mary hires Nina, a real estate broker, to sell her warehouse. The warehouse burns down before being sold. Nina is a. b. c. d. Marys agent until Marys insurer pays Ninas commission. Marys agent until the burnt warehouse is sold. Marys agent until the warehouse is rebuilt and sold. no longer Marys agent.

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Washington - BIOC - 405
Why is it physiologically advantageous forthe pancreas to use GLUT2, with a high K54, as the transporter that allows glucose entry into B cells?4. Enzyme redundancy?Why is it advantageous for the liverto have both hexokinase and giucokinase to p
Oakland University - MGT - 350
s.The Supreme Court of Washington was of opinion that the regular and systematicsolicitation of orders in the state by appellant's salesmen, resulting in a continuous flowof appellant's product into the state, was sufficient to constitute doing bu
University of Calgary - ECON - 359
4.In moving along any one Phillips curve actual inflation is changing. Therefore, along anyone Phillips curve expectations of inflation must be changing.5.An aggregate demand curve slopes downward because a lower price level makesconsumers
UNC Wilmington - PAR - 101
Celyna AlbanoSection 1March 12, 2014In Meditation I of Meditations on First Philosophy, Ren Descartescame to the conclusion that it is a difficult task to let go of former opinionsand start over from the ground up. Descartes explains that his opinion
Longwood - MARK - 380
Price Strategy:Being in the field of accounting the average salary is pretty high as well as thedemand that follows the job. For my services for this kind of work in the first few yearsof the job, I would expect to earn a base salary of fifty t
MIT - ECON - 14.13
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 14bTRUE/FALSE QUESTIONS1. FTo be negotiable, an instrument must indicate an account to be charged.2. FTo be negotiable, an instrument must be written on high-quality, letter- or legal-size paper.3. TTo be negotiable,
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 15bTRUE/FALSE QUESTIONS1. TUnder the UCC, a bank is a person engaged in the business of banking.2. FA bank that has certified a check is under no obligation to accept it.3. FA person who writes a bad check is subject
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 16bTRUE/FALSE QUESTIONS1. FA secured party is a person who owes the payment of a secured obligation.2. TAn improper filing renders a secured party unperfected.3. TA continuation statement is effective only if it is fi
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 18bTRUE/FALSE QUESTIONS1. TFiring a worker who refuses to perform an illegal act violates public policy.2. FEmployers may waive the overtime requirements of the Fair Labor Standards Act.3. TOnly the states can set saf
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 19bTRUE/FALSE QUESTIONS1. TIn a sole proprietorship, the owner receives all of the risk.2. TUnless the partnership agreement states otherwise, a general partners vote in management matters isproportionate to his or her
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 21bTRUE/FALSE QUESTIONS1. FAmong the most common forms of securities is corporate stock.2. FA security that qualifies for an exemption must be registered before it is offered to the public.3. FSales of securities may
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 23bTRUE/FALSE QUESTIONS1. TOnly two persons can hold property as joints tenants.2. FThe donee must give consideration for a gift to be effective.3. FA gift inter vivos can never be revoked.4. TProperty voluntarily p
Utah Valley University - BUSINESS - 101
Business Law & ethics- Chapter 24bTRUE/FALSE QUESTIONS1. FSurface and subsurface rights cannot be separated.2. FThe holder of a life estate does not have the right to mortgage the property.3. FUnder a quitclaim deed, a buyer promises to quit the pr
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 1bTRUE/FALSE QUESTIONS1. TThe U.S. Constitution is the supreme law of the United States.2. TFederal statutes apply to all states.3. FCommon law is a term for the law that is known to most of us.4. FCourts do not dep
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 1bTRUE/FALSE QUESTIONS1.The U.S. Constitution is the supreme law of the United States.2.Federal statutes apply to all states.3.Common law is a term for the law that is known to most of us.4.Courts do not depart from
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 2bTRUE/FALSE QUESTIONS1. FEthics is not concerned with the way in which moral principles are derived.2. FCorporate decisions affect only those who own, operate, or work for the firm.3. TCorporate ethical policies must
Utah Valley University - BUSINESS - 101
Business Law & Ethics- Chapter 3bTRUE/FALSE QUESTIONS1. TState courts are independent of federal courts.2. TA long arm statute permits a court to exercise jurisdiction over an out-of-state defendant.3. TA lawsuit involving a federal question can or
Miami University - ECO - 202
Chapter 8Value Creationwith Information SystemsWhat theoretical and analytical models help managersidentify opportunities to create added value with ITTraditional FrameworksThe mid-1980s analysis of the role ofinformation systems and IT beyondauto
Miami University - ECO - 202
Running head: MEMO TO THE BOARD OF DIRECTORSMemo to the Board of DirectorsStudents NameInstitutionOutline:i.Abstractii.Description of the current state of the economyiii.Changes in the economy that enhances the success of tobacco industryiv.Econom
Miami University - ECO - 202
Running head: Memo to the CEOBook ReviewStudents NameInstitutions NameBook ReviewThe great recession had enormous impacts on people all around the globe than any othercrisis the Great Depression. Unscrupulous corporate and personal behaviors and fla
Miami University - ECO - 202
Running head: COMPETITIVE EXCELLENCE AT RAYTHEON1Raytheons Change towards Competitive ExcellenceStudents NameInstitutionRaytheons Change towards Competitive ExcellenceOutlineRaytheon Company is a frontrunner in the field of defense. It produces gui
Miami University - ECO - 202
Running head: WALMARTS PERFORMANCE METRICS1Walmarts Performance MetricsName of StudentName of InstitutionWalmarts Performance MetricsA performance metric refers to the measure of an organizations activities andperformance. This is usually carried o
Miami University - ECO - 202
A novel of extreme significance to any manager or parent who faces operational efficiencychallenges.The Goal, by Eliyahu Goldratt, is a story about a young, perhaps late-30's or early 40's, upwardlymobile executive named Alex Rogo who personifies the p
Miami University - ECO - 202
Sticks, Stones and Broken Bones:Principles of Acute PainManagementManagementBrian S. Smith, Pharm.D., BCPSDirector, Pharmacy Practice ResidencyClinical Pharmacy Specialist, Critical Care SurgeryUMass Memorial Medical CenterGoal: Explore pharmacy i
Miami University - ECO - 202
Allstar Brands Marketing PlanJose RodriguezMarketing 640-41Prof. Harlan SpottsNovember 26th 2012OutlineA. Company OverviewB. CompetitorsC. Marketing ObjectivesD. SWOT Analysisi.Strengthsii.Weaknessesiii.Opportunitiesiv.ThreatsE. Target M
Miami University - ECO - 202
Anticoagulation and AntiAnticoagulationplatelet therapy OverviewMilka Njoroge, PharmD, BCPSClinical Pharmacist, Cardiology/Critical CareUMass Memorial Medical CenterObjectivesIdentify anticoagulants and antiplatelet agentsused in inpatient and outp
Miami University - ECO - 202
Rodriguez1Jose RodriguezBIS 610-45PaperBusiness Implications and TechnologyThe application of the modern technology has led to a tremendous paradigm change inthe social aspect of business. This is evident when people use electronics especially the
Miami University - ECO - 202
Surname1Name:Institution:Professor:Date:Business Implications and TechnologyThe application of the modern technology has led to a tremendous paradigm change inthe social aspect of business. This is evident when people use electronics especially th
Miami University - ECO - 202
Bond CalculationSome students had difficulty with calculating the cost of debt because it did not occur tothem that one would need understanding of the material of previously discussed topics tosolve this case. For that reason the focused solely on the
Miami University - ECO - 202
Jose RodriguezEMGT 622-40Chapters 4 & 502/13/13Pioneer Cold StorageChicopee, MA 01013Pioneer Cold provides comprehensive temperature controlled supply chain services. From the logisticsplanning stage to the streamlining of your daily operational ne
Miami University - ECO - 202
ChemotherapyInducedChemotherapyInducedNauseaandVomitingKarenSmethers,BS,RPh,PharmD,BCOPManager,OncologyPharmacyServicesUMassMemorialMedicalCenterhttp:/www.ashpmedia.org/advantage/cinv/default.htmLearningObjectivesDescribethepathophysiologyofandpha
Miami University - ECO - 202
Welcome and General Course QuestionsBetween just marketing and sales, I would say that more CEOscome from sales than marketing.There are sales-oriented companies and marketing-orientedcompanies. Ours is a sales-oriented company.Chief marketing office
Miami University - ECO - 202
Constraint Management at UniCo:Analyzing The Goal as Fictional Case StudyAbstractAs a fictional case study, Eliyahu Goldratts novel about manufacturing, TheGoal: A Process of Ongoing Improvement, presents a constraint-focused approach toproduction ma
Miami University - ECO - 202
Jose RodriguezModule 3Prob. 8-171Collection on sales:Cash sales:($40,000 X 20%),($70,000 X 20%),($50,000 X 20%)Credit sales:May($30,000 X 80% X 20%)June($36,000 X 80% X 70%),($36,000 X 80% X 20%)July$8,000August$14,000September$10,000
Miami University - ECO - 202
Yield to Price and Price to Yield CalculationsA. Yield to Price Non-Callable Bonds Method 1GivenFace Value1,000Coupon Rate5.50%Maturity (Years)12Compoundings per Year2Bond Yield to Maturity8.75%Price761.482B. Yield to Price Non-Callable Bon
Miami University - ECO - 202
Input Data(all dollar figures in thousands)New Equipment costNew Equipment lifeEquip. Residual ValueTax RateLoan interest rateAnnual Lease PmtMaintenanceMACRS Class$1,5008 Years$35032.00%14.00%$320$305 YearsModel Generated DataA.T. Loan
Miami University - ECO - 202
Ridder Hardwoods, Inc.Comparative Balance Sheets for 2010-2012Comparative Pro Forma Balance Sheets for 2013-2015(Thousands of Dollars)12/31/15 (F) 12/31/14 (F) 12/31/13 (F) 12/31/201212/31/201112/31/2010ASSETSCashMarketable SecuritiesAccounts Re
Miami University - ECO - 202
Ridder Hardwoods, Inc.Comparative Balance Sheets for 2010-2012Comparative Pro Forma Balance Sheets for 2013-2015(Thousands of Dollars)12/31/15 (F) 12/31/14 (F) 12/31/13 (F) 12/31/201212/31/201112/31/2010ASSETSCashMarketable SecuritiesAccounts Re
Miami University - ECO - 202
1Face ValueCoupon RateMaturity (Years)Compoundings per YearBond Yield to MaturityPrice60,000,0005.50%827.00%54,557,647.442Brokerage FeeAmount Raised2.00%53,466,494.496Additional YTMRequired Yield to Maturity0.30%7.00%3Face ValueCo
Miami University - ECO - 202
1. Calculate the enterprise value of Hopper LaboratoriesData on National SecurityGrowth RateShare PriceMarket CapDebtEBITDA NationalEBITDA Hopper6.00%$20.00$2 billion$200 million$275 million$33 millionEnterprise Value NationalEnterprise Val
Miami University - ECO - 202
INPUT DATA:Variable data:Sales Revenue IncreaseNew machine priceModification CostReceivables (DSO)Increase in InventoryIncrease in Payables$115,000$45,0005,000456,0000Fixed data:MACRS class lifeUseful life (old machine)Cost of capitalTax
Miami University - ECO - 202
INPUT DATA:Variable data:Sales Revenue IncreaseNew machine priceModification CostTransportation CostReceivables (DSO)Increase in InventoryIncrease in Payables$0$70,00015,0001,0000(2,000)(500)Fixed data:MACRS class lifeUseful lifeCost of
Miami University - ECO - 202
17Maturity:CompoundingRate:FeeAmount:30 years12 per year7.00%3.00%300000Principal (PMT)PMTRate$309,278.35$2,057.647.30%17. You are searching for the cheapest 30 year mortgage available in order to purchase a $300,000 home. A mortgagebrok
Miami University - ECO - 202
Crown Introduces Innovative Solution for Cold Storage Warehousing09.28.07, In 2007, Product NewsTags: Electric, ReachNEW BREMEN, Ohio (September 28, 2009) Cold storage warehousing requires lift truck operators to wear layersof clothing or work from sp
Miami University - ECO - 202
INPUT DATA:Variable data:New machine priceShippingInstallationOperating CostDecrease in InventoryDecrease in Payables$70,000$1,000$15,000$(30,000)$(2,000)$(500)$2,00012%40%Key OutputNPVFixed data:MACRS class lifeUseful lifeInitial ca
Miami University - ECO - 202
Ridder Hardwoods, Inc.Comparative Balance Sheets for 2010-2012Comparative Pro Forma Balance Sheets for 2013-2015(Thousands of Dollars)12/31/15 (F) 12/31/14 (F) 12/31/13 (F) 12/31/2012ASSETSCashMarketable SecuritiesAccounts RecievableInventoryCur
Miami University - ECO - 202
ParticipationEcon PresentationAss 1EthicsEnvironmentalFinal20%5%20%10%20%25%88100787886017.5515.67.817.2063.1QuizMemoPrep/ DiscussionTotal3580350465501004005500.700.800.880.85MPDebriefTeamTotal2401004238230
Miami University - ECO - 202
FacebookGroup 1Kyle KnowlesJonathan RappaportStacey BoswellAgendaInternetGrowthandSocialMedia InformationSharingandSocialChange ChangingPoliticalEnvironment RegulatoryEnvironmentandPrivacyIssues AnalyzingFacebooksResponsesWorld Internet Usage G
Miami University - ECO - 202
Art NowikDavid SilverstrimMegan Doyle1900-1910sOlds Motor Works , Lansing MichiganCurved Dash Olds Dec. 18, 1901Oldsmobile Limited base price $5,000 in 1911http:/www.lansingstatejournal.com/article/20080427/NEWS03/804270691/A-timelineGM-s-history
Miami University - ECO - 202
FacetsoftheChangingEnvironmentClimateChange&CleanEnergyGroup3:ChristineClemmensJoseRodriguezDaveZaffettiClimateChangeResultsfromincreasedglobalwarmingandhasbecomeasignificantpartofeverydaypatternsofliving.IndustriesaffectedAgricultureandfood
Miami University - ECO - 202
ToyotaGroup6:DavidGay,NicolePalange&ScottSuhozaBusiness&ItsEnvironmentOptionA12ToyotaMotorCorporation Established in 1937 Motor vehicle production &sales 50 overseas manufacturing companies Sold in more than 160 countries Toyota is one ofA
Miami University - ECO - 202
Jose RodriguezEMGT 619-40Homework 31)To answer this question we need to 1st draw the scatter plot of demand vs. month, which is given below,From the obtained scatter plot we can see there is a seasonal variation present in the data so we need toelim
Miami University - ECO - 202
Jose RodriguezEMGT 619-40Homework 48. Super-Part, an auto parts distributor, has a large warehouse in the Chicago region and isdeciding on a policy for the use of TL or LTL transportation for inbound shipping. LTL shippingcosts $1 per unit. TL shippi
Miami University - ECO - 202
MonthJanFebMarAprMayJunJulAugSepOctNovDecJanFebMarAprMayJunJulAugSepOctNovDecNo123456789101112131415161718192021222324Demand Absolute Error Percentage error1200 257.35666666721.45%1400 111.6444927547.9
Miami University - ECO - 202
Instructions:Objectives: Explain the nature of the changing economic, social and political environments asthey affect all organizations; Recognize how your own values and ideology influence your viewpoint on an issueand potential corporate responses;
Miami University - ECO - 202
Miami University - ECO - 202
Running head: MEMO TO THE CEO1Memo to the CEO: StarbucksJose RodriguezBUS 610-41Prof. Anita Dancs11/05/12MEMO TO THE CEO2Memo to the CEO: StarbucksTo: The Chief Executive Officer,RE: Summary of the Book, Findings and RecommendationSummaryThe
Miami University - ECO - 202
Jose RodriguezEMGT 622-40Sustaining Lean02/06/13Pioneer Cold StorageChicopee, MA 01013Pioneer Cold provides comprehensive temperature controlled supply chain services. From the logisticsplanning stage to the streamlining of your daily operational n
Miami University - ECO - 202
Product and Pricing ManagementMarketing 3349PharmaSim Marketing PlanDeveloping a marketing plan for periods 3-6 is a key part of success in the PharmaSim environment andwill serve as your firms roadmap throughout the remainder of the simulation. Your
Miami University - ECO - 202