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

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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 6:18 PM Name Module 6 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 9 seconds out of 2 hours and Instructions Question 1 Tire Manufacturing Company employs Uri as an agent. To terminate Uri's authority, Tire Manufacturing must notify Selected Answer: [None Given] Correct Answer: Uri and any third parties who are aware of the agency relationship. 0 out of 2 points Question 2 Building subcontractors are not independent contractors. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 3 An independent contractor is an employer who controls his or her agent's performance. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 4 Jock hires Kym to act as his agent to purchase Lifetime Gym & Fitness, Inc. Jock tells Kym to reveal that she is buying the firm on behalf of a third party and to tell Lifetime's seller who that third party is. Jock is Selected Answer: [None Given] Correct Answer: a disclosed principal. 0 out of 2 points Question 5 For an agent's implied authority to be effective, a principal must confirm it in writing. 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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Selected Answer: [None Given] Correct Answer: False Question 6 Dizzy is not Edwina's agent but enters into a contract with Frida on Edwina's behalf. Edwina later contacts Frida to approve the contract. This is Selected Answer: [None Given] Correct Answer: an agency by ratification. 0 out of 2 points Question 7 A licensed professional can employ an unlicensed agent to perform professional actions. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 8 The equal dignity rule does not apply to a corporate officer who, in an ordinary business situation, acts on behalf of his or her firm. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 9 Jim agrees to act on Kit's behalf, subject to Kit's control, and Kit trusts Jim to so act. This describes a relationship between Selected Answer: [None Given] Correct Answer: a principal and an agent. 0 out of 2 points Question 10 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 11 Trey, an agent for Uno Music Corporation, executes an unauthorized contract with Variety Recording, Inc., that is highly advantageous to Uno. Variety withdraws from the deal before Uno ratifies the contract. The contract is Selected Answer: [None Given] Correct Answer: void.
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