B) False
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A) Although the principal is a fiduciary, an agent is not a fiduciary.
B) An agent is a fiduciary only if the principal and agent agreed by written contract that the agent is a fiduciary.
C) An agent is a fiduciary only if the principal and agent agreed by written or oral contract that the agent is a fiduciary.
D) An agent is only a fiduciary to the principal only if a transaction in excess of $10,000 is involved.
E) An agent is a fiduciary to the principal.
G) A) and B)
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A) Building contractor
B) Stockbroker
C) Elementary school teacher
D) Lawyer
E) Doctor
G) B) and C)
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Under the duty of accounting,the agent m...View Answer
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A) Jason is not due any reimbursement because he did not get permission from Nick before paying ABC Computers.
B) Jason is only due 50% of whatever he paid because he did not get permission from Nick before paying ABC Computers.
C) Jason is not due any reimbursement from Nick unless he can establish that Nick signed a written contract authorizing him to personally pay debts incurred.
D) Jason is not due any reimbursement from Nick unless Jason can establish by a preponderance of the evidence that ABC Computers would not have agreed to take a lesser amount.
E) Jason is entitled to reimbursement from Nick.
G) B) and C)
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A) Duty of action
B) Duty of contract
C) Express duty of action
D) Duty of performance
E) Duty of obedience
G) B) and C)
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A) The employee is subject to the control of the employer.
B) Generally, all employees are considered to be agents of the employer.
C) Employees who are not legally authorized to enter into contracts binding their employer are nevertheless generally considered agents of the employer.
D) In an employer-employee relationship, the employee is subject to the employer's control.
E) Independent contractors fall under the employer-employee relationship.
G) A) and D)
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A) Resolute
B) Actual
C) Constructive
D) Defined
E) Absolute
G) B) and D)
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A) Duty of notification
B) Duty of information
C) Requirement of conveyance
D) Constructive notification
E) Constructive information
G) A) and B)
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A) He was an independent contractor.
B) He was an employee.
C) He had a special status called employee-contractor, a term used to represent a contractor with some responsibilities indicating status as an employee and some responsibilities indicating otherwise.
D) He was an express contractor.
E) He was an implied contractor.
G) C) and D)
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B) False
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A) Pam will win assuming that she can prove that she reasonably believed, based on Paul's conduct, that Jane was acting as his agent.
B) Pam will lose because it was her responsibility to ask Paul for written documentation that Jane was his agent.
C) Pam will lose unless it can be established that Jane at some time in the past had actual authority to act as Paul's agent.
D) Pam will win only if she can show that through reasonable investigative efforts on her part Jane cannot be located.
E) Pam will win only if she can show that Jane has no assets with which to pay for the necklace.
G) A) and D)
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A) Yes, because he made the purchase from ABC Computers without mention of Nick.
B) Yes, but only because office equipment is involved.
C) No, because his status was as an agent regardless of whether ABC Computers was aware of that fact.
D) Yes, but only if Nick refused to pay.
E) Yes, but only if Nick were declared judicially insolvent.
G) All of the above
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A) Expressed agency
B) Implied agency
C) Apparent agency
D) Ratification
E) Endorsement
G) A) and B)
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A) In civil law countries, a power of attorney authorizes the agent only to conduct a series of transactions under instruction from the principal.
B) In Luxembourg, the person on whose behalf the power of attorney is created is called a donor, instead of a principal.
C) One type of power of attorney in Luxembourg is a power of attorney that is valid until death.
D) One type of power of attorney in Luxembourg is a power of attorney that has unlimited validity even after death.
E) The law in Luxembourg requires that the power of attorney be authenticated by a public authority or a public notary.
G) A) and B)
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Sam would be considered an employee prim...View Answer
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A) Sue will lose because Ronnie was no longer her agent when he revealed the information.
B) Sue will lose because regardless of whether he was working for her or not, he had no legal duty to keep any information confidential.
C) Sue will lose unless she can establish that revealing the information caused her to suffer economic loss.
D) Sue will lose unless she can establish that revealing the information caused her to seek psychological counseling.
E) Sue will win.
G) A) and B)
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A) Paul will win because he did nothing to cause Harry to believe that he would pay for the jacket.
B) Harry will win because Jane indicated that she had apparent authority to buy the jacket for Paul.
C) Harry will win only if he can show that through reasonable investigative efforts on his part Jane cannot be located.
D) Harry will win only if he can show that Jane has no assets with which to pay for the necklace.
E) Harry will win on an implied agency theory.
G) All of the above
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A) Consortium
B) Disagreement
C) Conflict of interest
D) Delineation of interest
E) Absolution
G) B) and C)
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A) Expressed agency
B) Implied agency
C) Apparent agency
D) Ratification
E) Endorsement
G) A) and C)
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