Management Homework Help

1.when determining whether an agent has apparent authority, the focus is on

1. words or conduct by the

principal directed to the third party

the third party’s subjective beliefexpress instructions given by the principal to the agentwords or conduct by the agent directed to the third party

2.Jenna hires Ralph serve as her agent to purchase commercial property on her behalf. Jenna instructs Ralph to not agree to more than $250000 for any property, Jenna and Ralph agree the agency will last 6 months and Ralph will receive a lump sum of $5000 if a purchase is completed . in this example , Ralph’s authority in the agency relationship is

1. actual and implied
2. apparent and implied
3. actual and express
4. apparent and express

3.Peter hires Brian and tells Brian that he has the authority to make purchases for Peter’s company in this case, Brian is

1. the third party
2. the principal
3. not an agent since there is no mention of payment
4. an agent

4.which of the following is the heaviest weighted factor in determining whether is an employee or independent contractor?

1. the manner in which the worker is paid
2. the degree of control the hiring party exercises over the means by which the work is accomplished
3. how long it will take the worker to complete the work
4. whether the hiring party classifies the worker as an employee or independent contractor

5.an agent who accepts a kickback from a third party has breached

1. no duty as long as the agent would have contracted with the third party anyway
2. his/her duty of obedience
3. his/her fiduciary duty to the third party
4. his/her fiduciary duty to the principal

6.Which of the agent’s duty continues after the agency ends?

1. care
2. obedience
3. notification
4. confidentiality

7.which agent authority can potentially continue after the agency relationship ends?

1. express and implied
2. implied
3. express
4. apparent

8.which of the following is a principal’s duty to an agent

1. reimbursement
2. segregation
3. confidentially
4. obedience

9.which of the following terminates an agency relationship through operation of law

1. revocation (by the principal) or renunciation(by the agent)
2. the specified result of the agency has been accomplished
3. the principal or the agent has learned the other has died
4. mutual agreement between principal and agent to terminate the agency

10.which of the following is true of an agent who terminates the agency relationship in violation of the agency agreement( ie… wrongfully)? the agent has