20 - NR275.BUS.241.35.SP11[Spring 2011 BUS 241-35 Business...

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NR275.BUS.241.35.SP11 - ([Spring 2011] BUS 241-35: Business Law I) Assignments ... Module 6 Practice Test Review Test Submission: Module 6 Practice Test Review Test Submission: Module 6 Practice Test User Kristen M Ritch Submitted 3/5/11 6:35 PM Name Module 6 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 10 seconds out of 2 hours and Instructions Question 1 A principal owes an agent a duty of accounting. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 2 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. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 3 An agency relationship can be formed without consideration. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 4 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 Selected Answer: [None Given] Correct Answer: totally unsuccessful. 0 out of 2 points Question 5 An agent is authorized to act on behalf of a principal in doing business with third parties. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points 0 out of 2 points NR275.BUS.241.35.SP ([Spring 2011] BUS 241-35: Business Law I) Announcements Faculty & Course Informatio Assignments Course Documents Discussion Board My Grades Communication Tools Resources
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Question 6 A principal owes an agent a duty of ratification. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 7 Delite Candy Company hires Elton to sell Delite's products in a certain area. Delite agrees to pay Elton a salary, plus commission, for a trial period. They also agree that Elton can sell using any methods and during any hours that seem appropriate. The key factor in whether Elton is Delite's employee is Selected Answer: [None Given] Correct Answer: the control Delite has over the details of the work. 0 out of 2 points Question 8 A disclosed principal is not liable to a third party for contracts made by the agent acting outside the scope of his or her authority. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 9 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 Selected Answer: [None Given] Correct Answer: voidable at Lebron's option. 0 out of 2 points Question 10 Express authority is authority declared in clear, direct, definite terms.
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