WorksheetsBL - Chapter 13
Total questions: 21
Worksheet time: 12mins
A person who authorizes someone to represent his or her interests is called a principal.
True
False
The person with whom the agent does business on behalf of the principal is called the agent’s agent.
True
False
In a master-servant relationship, the person performing a task is the master.
True
False
A gratuitous agent represents a principal for free.
True
False
When a principal’s actions lead the third party to believe that the agent is working for the principal, it is called agency by statute.
True
False
Which of the following is not a type of agent?
special agent
general agent
agent's agent
new agent
Which of the following is not a special agent?
a counterperson at a video store
the owner of a company
a pizza delivery person
a car sales person
Which of the following is a type of power of attorney?
a super power of attorney
a limited power of attorney
an apprehensive power of attorney
None of the above
Which is a type of agent authority?
blatant authority
constructive authority
apparent authority
zero authority
Who appoints an agent’s agent?
another agent
the principal
a third party
a coagent
When apparent authority is based on previous dealings, what is it known as?
implied authority
assumed authority
customary authority
None of the above
Who authorizes someone to represent his or her interest?
principal
agent
third party
lawyer
An ______________________ is a type of working relationship in which one person represents another person in a business transaction with a third party.
mutual relationship
agency
An ___________________________________________ works for a proprietor to perform a particular task using his or her own tools and deciding the best way to do the job.
independent contractor
servant
When an agent performs a task they are not authorized to do, the principal can either ignore the action made by the agent or _________________________________ the action.
ratify
uphold
___________________________________ comes from the orders, commands, or instructions a principal explicitly gives an agent.
express authority
implied authority
Another term for general agents is ____________________________________________.
nondiscretionary agents
discretionary agents
Another term for special agent is __________________________________________.
limited agent
unlimited agent
List the four types of work relationships.
(a)
List the three types of power of attorneys.
(a)
Can anyone be a principal?
Yes
No
Maybe so
