Question: If an agent was without authority to enter into a contract in a partially disclosed or undisclosed principal situation, then the agent is fully liable

If an agent was without authority to enter into a contract in a partially disclosed or undisclosed principal situation, then the agent is fully liable on the contract but has the right to reimbursement from the principal. Group of answer choices True False

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

2 pts D Question 13 If an agent was without authority to enter into a contract in a partially disclosed or undisclosed principal situation, then the agent is fully liable on the contract but has the...

The term applies to a situation where an agent makes known the existence of a principal but not the identity of the principal. Partially Disclosed Principal Disclosed Principal Undisclosed Principal...

In which of the following does an agent risk the most potential exposure to personal liability for breach of contract? In which of the following does an agent risk the most potential exposure to...

1.Yuan retains Stanton to act as Yuan's agent to purchase a painting from Millan.Stanton buys the painting for himself, however, and re-sells it to Murphy, for a profit.In doing Stanton has breached...

When is principal liable for a contract entered into by an agent? When the agent has authority to enter into the contract Contract Liability of the Principal Principal is generally liable on...

Thus far, this chapter has explored the nuts and bolts of various aspects of agency law, including an agents express and implied authority to negotiate legally binding contracts on behalf of a...

QUESTION 1 An agent is not liable for any contracts made on behalf of a(n) a. undisclosed principal. b. partially disclosed principal. c. unidentified principal. d. fully disclosed principal. 4...

Legal Strategy 101 LeBron Jamess Agent Let us now consider the case of NBA All-Star LeBron James and Dan Gilbert, the owner of the Cleveland Cavaliers pro-basketball franchise. LeBron began his...

Statement I: Instructions contemplate only private rules of guidance to the agent and are independent and distinct from the agent's authority. Statement II: The liability of the agent for either...

21. GAINING PROPERTY BY THE MIXING OF TWO PARTIES FUNGIBLE GOODS IS: a. CONFUSION b. ILLEGAL c. TAKE OVER d. NONE OF THE ABOVE 22. ORAL WILLS ARE: a. HOLOGRAPHIC WILLS b. NUNCUPATIVE WILLS c....

Presented below are two independent situations. (a) CeCe Winans Corporation incurred the following costs in connection with the issuance of bonds: (1) Printing and engraving costs, $12,000; (2) Legal...

Financial statement data of Style Travel magazine include the following information (dollars in thousands):...

Chooose the correct answer A partner\'s capital at the end was Rs. 20,000. His share of profits for the year amounted to Rs. 6,000 and drawings Rs.4,000. His capital at the beginning was...

atch the compensation objectives with their meanings. Efficiency Efficiency drop zone empty. Fairness Fairness drop zone empty. Compliance Compliance drop zone empty. Improving performance and...