Topic 3 - Law of Agency

Topic 3 - Law of Agency

University

20 Qs

quiz-placeholder

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Topic 3 - Law of Agency

Topic 3 - Law of Agency

Assessment

Quiz

Social Studies

University

Practice Problem

Hard

Created by

NAIM AZIZI

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

'He is a person for whom such act is done, or who is so represented in dealing with a third party.'

Agent

Third Party

Principal

Leader

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The agreement created between principal and agent is

Contract of employment

Contract of service

Contract of sale and purchase

Contract of agency

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

'A person, by his words/conducts, allows a 3rd party to believe that B is his agent even when B is not, and the 3rd party relies on it to his detriment, that person will be estopped/precluded from denying the existence of B’s authority.'


A is agent by way of

necessity

ratification

implied appointment

estoppel

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the agency by ratification, if the principal does not ratify the contract made by the agent, the effect of the contract is _____

The agent will be responsible for the contract

The principal will not be responsible for the contract

The agent will not be responsible for the contract

The principal will be responsible for the contract

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Contracts are made between the principal and the third party or directly with the agent.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_________ arises where P implies that A is his agent even though that is not. He is then prevented or "stopped" from denying A's authority.

Ratification

Necessity

Estoppel

Implied Appointment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A void or illegal contract may still be ratified.

True

False

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