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CBAD 344 Test 4 – Questions With Proper Solutions

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CBAD 344 Test 4 – Questions With Proper Solutions

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CBAD 344 Test 4 – Questions With Proper Solutions

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Practice questions for this set


Learn 1 /7 Study with Learn




1. compensation
2. reimbursement and indemnification
3. cooperation
4. safe working conditions



Choose an answer



1 agency 2 notary public



3 independent contractor 4 4 duties of a principal:



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Terms in this set (90)


a relationship between two parties in which one party (agent)
agency
agrees to represent or act for the other (principal)

a person having a duty created by their undertaking to act
fiduciary primarily for another's benefit in matters connected with the
undertaking

agency law is based on: common law

employment law is based on: statutory law

one who works for, and receives payment from, an employer but
independent contractor whose working conditions and methods are not controlled by
the employer

1. agreement of the parties
4 ways an agency relationship 2. ratification
can arise: 3. estoppel
4. operation of law

, a party's act of accepting or giving legal force to a contract or
ratification other obligation entered into on his or her behalf by another that
previously was not enforceable

1. performance
2. notification
5 duties of an agent: 3. loyalty
4. obedience
5. accounting

1. compensation
2. reimbursement and indemnification
4 duties of a principal:
3. cooperation
4. safe working conditions

2 types of an agent's authority to 1. actual (express or implied)
act: 2. apparent

express authority authority declared in clear, direct, and definite terms

a rule requiring that an agent's authority be in writing if the
equal dignity rule
contract to be made on behalf of the principal must be in writing

authorization for another to act as one's agent or attorney either
power of attorney
in specified circumstances (special) or in all situations (general)

notary public a public official to attest to the authenticity of signatures

apparent authority authority that is only apparent, not real

1. disclosed
3 ways principals are classified
2. partially disclosed
as:
3. undisclosed

a principal whose identity is known to a third party at the time the
disclosed principal
agent makes a contract with the third party

a principal whose identity is unknown by a third party, but the
partially disclosed principal third party knows that the agent is or may be acting for a
principal at the time the agent and the third party form a contract

a principal whose identity is unknown by a third party, and that
undisclosed principal person has no knowledge that the agent is acting for a principal
at the time the agent and the third party form a contract

a doctrine under which a principal or an employer is held liable
for the wrongful acts committed by agents or employees while
respondeat superior
acting within the course and scope of their agency or
employement

indirect liability imposed on a supervisory party (employer) for
vicarious liability the actions of a subordinate (employee) because of the
relationship between the two parties

1. lapse of time
2. achievement of the purpose of the agency
5 acts that will terminate an
3. occurrence of a specific event
agency:
4. mutual agreement
5. action of one party

an agency, created for the benefit of the agent, in which the
agency coupled with an interest agent has some legal right (interest) in the property that is the
subject of the agency

1. death or insanity
2. impossibility
5 circumstances for termination
3. changed circumstances
by operation of law:
4. bankruptcy
5. war

a common law doctrine under which either party may terminate
employment at will an employment relationship at any time for any reason, unless a
contract specified otherwise

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