Conduct the bulk of a principal business

Question

Problem 1. If a time for performance is not stated in the contract, then the contract must be performed immediately.

• True
• False

Problem 2. The type of agency created when one person is falsely represented to be an agent when no such agency relationship exists, is known as:

• Agency by estoppel
• Agency by operation of law
• The equal dignities rule
• Sovereign immunity

Problem 3. Which of the following is one of the two questions that must be answered in order to apply the doctrine of respondeat superior?

• Is the alleged tortfeasor engaged in an extremely dangerous activity?
• Is the alleged tortfeasor a servant or an alter ego?
• Is the alleged tortfeasor a servant or independent contractor?
• Is the alleged tortfeasor an agent or a servant?

Problem 4. An anticipatory breach occurs when a party to a contract expresses or clearly implies an intention not to perform to contract after being required to act.

• True
• False

5. Which of the following are equitable remedies?

• Monetary damages
• Specific performance
• Specific performance and injunctive relief
• Monetary damages, specific performance, and injunctive relief

Problem 6. In which of the following situations may an agent legally appoint a subagent?

• When the case involves coagents
• When the appointment is implied from the nature of the employment
• When the situation involves a nondelegable duty
• When the coagent demands such an appointment

Problem 7. When an assignment occurs, the assignee assumes the contractual obligations previously held by the assignor.

• True
• False

Problem 8. A person given broad authority to conduct the bulk of a principal's business is called a:

• Master
• Borrowed servant
• Croprietor
• General agent

Problem 9. An agent may terminate an agency relationship by revocation.

• True
• False

Problem 10. List the ways an agency can be created.

Problem 11. What person may be appointed an agent under a power of attorney?

• Anyone
• Anyone who can lawfully contract in his or her own name
• An attorney only
• Anyone who is approved by the court

Problem 12. A substantial or legally sufficient reason for doing something is known as ____.

• Revocation
• Renunciation
• Commingling
• Good cause

Problem 13. An agency is always:

• Contractual
• Gratuitous
• Consensual
• Binding

Problem 14. An agent does not have the authority to represent the principal.

• True
• False

Problem 15. A statue that provides for a time limitation for legal action (suits) to be filed, are known as ________.

• Statute of Time Limits
• Statute of Limits
• Statute of Limitations
• Limited Statues

Problem 16. A transfer of a contract duty is a(n):

• Novation
• Assignment
• Warranty
• Delegation

Problem 17. When an agent is appointed by the principal to negotiate and enter into contracts on behalf of the principal, is known as:

• Contractual Liability
• Contractual Responsibility
• Tort Liability
• Criminal Liability

Problem 18. A warranty is a promise, statement, or other representation of certain qualities.

• True
• False

Problem 19. An individual who is affected by a contract but who does not receive any benefits from it is known as a third party.

• True
• False

Problem 20. Express authority may never be indicated by conduct.

• True
• False

Problem 21. A transfer of a contract right is called a(n):

• Delegation
• Transfer
• Assignment
• Beneficiary

Problem 22. The agent's duty of loyalty means that the agent cannot act ____.

• For two principals
• For more than one year for the same principal
• For two principals in the same transaction
• For an undisclosed principal

Problem 23. The range of activities authorized by the pricipal to the agent is known as the _______.

• Scope of authority
• Scope of responsibility
• Statement of work
• Scope of work

Problem 24. Authority granted to an agent may be express, implied, apparent, or known.

• True
• False

Problem 25. An agency coupled with an interest may not be revoked without the consent of all the parties.

• True
• False