Agency Law Quiz

Which of the following is a person who is authorized to act in the name of and on behalf of another?

• Agent

• Customer

• Principal

• Regulator

Which of the following is NOT a duty of an agent to a principal?

• Duty to notify

• Duty to account

• Duty to interests

• Duty to obey instructions

Paying the agent for his or her time and service is to fulfill which of the following duties to the agent?

• Duty of reimbursement

• Duty of respect

• Duty of indemnity

• Duty to compensate

Which of the following is an agency relationship terminated by events which are beyond the control of the parties?

• The passing of a period of time

• The happening of a specific event

• Impossibility of the agent to perform his or her duties

• Achieving a specified result

Which of the following is NOT an example of a servant?

• A manager in a paint store

• A real estate broker who is hired to sell land

• A chef in a restaurant

• A graphic designer in a marketing firm