Chapter 20 Agency - 8 Irma retains Jerry as her authorized...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
8. Irma retains Jerry as her authorized agent, unaware that Jerry is a minor. Jerry enters into a contract with Ken on Irma’s be¬half. 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. 9. A court declares Rose to be legally incompetent. Rose can be 10. Macro Corporation and National Purchasing Company may create an agency agreement 11. Rita is appointed as an agent for Superior Sales, Inc. The agency agreement is silent as to the level of sales that Rita is expected to achieve. She must
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
12. 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. 13. Prospective Enterprises (PE) employs Quinn to buy property for a possible com¬mercial development. Quinn secretly buys some of the property and sells it to PE at a profit. Quinn has breached a. no duty. b. the duty of accounting. c. the duty of loyalty. d. the duty of notification. 14. Elle is an agent for Fine Cosmetics, Inc. Elle owes Fine Cosmetics the duty of 15. Hugh is an agent for Industrial Solvents, Inc. Hugh owes Industrial Solvents the duty of
Image of page 2
16. Regional Investment Corporation (RIC) hires Sam, a real estate agent, to locate investment properties for RIC. Sam learns of a warehouse avail¬able for $100,000, buys it himself, and offers it to RIC for $200,000. Under the reasoning of the court in Case 31.3, Cousins v. Realty Ventures, Inc., Sam
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern