Answer both the MCQ's.

1. An agency relationship can be created by

a. actual authority.

b. estoppel.

c. ratification.

d. apparent authority.

e. all of the above

2. Identify the true statement concerning the law of principal and agent.

a. Agency is only created by way of a contract.

b. An agent who puts himself in a position where his interests conflict with those of his principal is in breach of his duties even though no actual harm comes to his principal.

c. The principal and his agent owe each other the same duties.

d. An agent with no express authority can never bind his principal into a contract with a third party.

e. An agent can never be liable to the third party himself while the principal will bear no such liability.