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Question

UESTION 1

  1. ​ A contractor's work can be so controlled by the hiring party that the contractor is regarded as an employee of the hiring person.
  2.  True
  3.  False

5 points  

QUESTION 2

  1. ​ A person who has knowledge of a limitation on an agent's authority cannot disregard that limitation.
  2.  True
  3.  False

5 points  

QUESTION 3

  1. ​ A universal agent is authorized by the principal to transact all affairs in connection with a particular type of business or trade or to transact all business at a certain place.
  2.  True
  3.  False

5 points  

QUESTION 4

  1. ​ An agent has an interest in the authority when consideration has been given or paid for the right to exercise the authority.
  2.  True
  3.  False

5 points  

QUESTION 5

  1. ​ An employer does not have control over the performance of the work done by an independent contractor.
  2.  True
  3.  False

5 points  

QUESTION 6

  1. ​ For ratification to occur, the agent must have purported to act on behalf of, or as agent for, the identified principal.
  2.  True
  3.  False

5 points  

QUESTION 7

  1. ​ The acts of the agent obligate the principal to third persons and give the principal rights against third persons.
  2.  True
  3.  False

5 points  

QUESTION 8

  1. ​ The "right to control" test determines whether an individual is an agent, an employee, or an independent contractor.
  2.  True
  3.  False

5 points  

QUESTION 9

  1. ​ In performing agency duties, the agent must exercise the care that a reasonably prudent person would exercise under the same circumstances.
  2.  True
  3.  False

5 points  

QUESTION 10

  1. ​ The intention to ratify an unauthorized act may be expressed by words or conduct.
  2.  True
  3.  False

5 points  

QUESTION 11

  1. ​ A written authorization of agency is called a power of attorney.
  2.  True
  3.  False

5 points (Extra Credit)  

QUESTION 12

  1. ​ A customer who has given a purchase order to a salesperson is not bound by any contract until the employer of the salesperson accepts the order.
  2.  True
  3.  False

5 points  

QUESTION 13

  1. ​ An agent should never sign a contract using "by" or "per" and then his or her name.
  2.  True
  3.  False

5 points  

QUESTION 14

  1. ​ Hiring an individual with a criminal record is conclusive proof that the employer is liable for the tort of negligent hiring.
  2.  True
  3.  False

5 points  

QUESTION 15

  1. ​ In general, a principal is liable for crimes of the agent committed while acting within the scope of the agency, even if the principal did not authorize commission of the crimes.
  2.  True
  3.  False

5 points  

QUESTION 16

  1. ​ The principal is bound by knowledge but not by notice of any fact that is acquired by an agent while acting within the scope of actual or apparent authority.
  2.  True
  3.  False

5 points  

QUESTION 17

  1. ​ The fact that a tort or crime is committed by an employee imposes vicarious liability on an employer.
  2.  True
  3.  False

5 points  

QUESTION 18

  1. ​ When a third person makes payment to an authorized agent, such payment is deemed made to the principal at the time the agent remits the payment to the principal.
  2.  True
  3.  False

5 points  

QUESTION 19

  1. ​ If an agent's act causes loss to the third person, that third person may generally hold the agent liable for the loss.
  2.  True
  3.  False

5 points  

QUESTION 20

  1. ​ Agents may intentionally make themselves contractually liable to third persons.
  2.  True
  3.  False

5 points  

QUESTION 21

  1. ​ A principal is not bound by statements made by an agent during the transaction of business that is within the scope of the agent's authority.
  2.  True
  3.  False


QUESTION 22

  1. ​ An implied warranty arises when a person purports to act as an agent for a principal.
  2.  True
  3.  False

Step-by-step answer

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Subject: Business, Management

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