Agency MCQs

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Noll gives Carr a written power of attorney. Which of the following statements is correct regarding this power of attorney?






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A principal and agent relationship requires a






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Lee repairs high-speed looms for Sew Corp., a clothing manufacturer. Which of the following circumstances best indicates that Lee is an employee of ...






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Generally, a disclosed principal will be liable to third parties for its agent’s unauthorized misrepresentations if the agent is an Employee . . ....






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Which of the following terms best describes the relationship between a corporation and the CPA it hires to audit corporate books?






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Harris, while delivering parts to a customer for his employer, negligently ran into and injured Wolfe. Harris had been asked by his employer to make...






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Chiron employed Sherwin as a mechanic. Chiron has various rules that all employed mechanics must follow. One day a customer was injured severely whe...






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Pine, an employee of Global Messenger Co., was hired to deliver highly secret corporate documents for Global’s clients throughout the world. Unkno...






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When an agent acts for an undisclosed principal, the principal will not be liable to third parties if the






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Trent was retained, in writing, to act as Post’s agent for the sale of Post’s memorabilia collection. Which of the following statements is corre...






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Blue, a used car dealer, appointed Gage as an agent to sell Blue’s cars. Gage was authorized by Blue to appoint subagents to assist in the sale of...






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Blue, a used car dealer, appointed Gage as an agent to sell Blue’s cars. Gage was authorized by Blue to appoint subagents to assist in the sale of...






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Which of the following under agency law is not a type of authority that an agent might have?






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Which of the following actions requires an agent for a corporation to have a written agency agreement?






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Frost’s accountant and business manager has the authority to






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Ames, claiming to be an agent of Clar Corporation, makes a contract with Trimon in the name of Clar Corporation. Later, Clar Corporation, for the fi...






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Beele authorized McDonald to be his agent to go to Denver and purchase some real estate that would be suitable to open up a branch office for Beele...






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Young Corp. hired Wilson as a sales representative for six months at a salary of $5,000 per month plus 6% of sales. Which of the following statement...






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Which of the following statement(s) concerning agency law is (are) true? I. A contract is needed to have an agency relationship. II. The agent owes...






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Easy Corp. is a real estate developer and regularly engages real estate brokers to act on its behalf in acquiring parcels of land. The brokers are a...






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Which of the following rights will a third party be entitled to after validly contracting with an agent representing an undisclosed principal?






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Able, as agent for Baker, an undisclosed principal, contracted with Safe to purchase an antique car. In payment, Able issued his personal check to S...






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Thorp was a purchasing agent for Ogden, a sole proprietor, and had the express authority to place purchase orders with Ogden’s suppliers. Thorp pl...






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Generally, an agency relationship is terminated by operation of law in all of the following situations except the






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Bolt Corp. dismissed Ace as its general sales agent and notified all of Ace’s known customers by letter. Young Corp., a retail outlet located outs...