PLEASE HELP. i will give good ratings!!!:))(

Question 23

17

One of the benefits of agency is that it:

Allows you to transact business in different places simultaneously.

O Never needs to be based upon a wrilten agreement.

O Eliminates all tax liabilities for the principal if they use an agent with greater legal capacity.

O Allows one to escape tort liability.

Question 24

The agency relationship arises when:

O Two people agree that one shall be compensated.

O Two people agree that one shall work for the benefit but independent of the direction of the other.

O Two people agree that one shall be uncompensated.

O Two people agree that one shall work for the benefit and under the direction of the other.

Question 25

E

2 oks

An agency relationship:

O exists only when it is in the form of a written document signed by both parties

O can be either compensaled or uncompensated.

O will not exist if the parties have expressly agreed that they do not intend to create one.

can only be formed by contract.

Question 26

2 pts

After termination of an agency, individual (actual) notice of the termination should be given to:

O Those who have dealt with former agent to avoid arising from apparent authority.

O Anyone to avoid liability arising from apparent authority.

O All future customers, otherwise liability will arise from apparent authority.

O All future customers, otherwise liability will arise from implied authority.

Question 27

2 pts

Kinzig, an attorney, recovered a judgment for Jones and deposited the money in her (Kinzig's) own personal account at Fidelity National Bank. Kinzig sent

Jones a personal check, made payable to Jones, for the amount of the judgment. Before the check cleared, however, the bank failed. Jones subsequenty

brought suit against Kinzing to recover the amount of the judgment, which had been collected by Kinzig. Kinzig defended the action on the grounds that

she, as a special agent, was entitled to exercise great discretion in the manner of performing her work; that the loss resulted solely from the bank's failure

and not from personal negligence; and that she had exercised reasonable care in carrying out her duty. Would this be an acceptable defense?

O Yes. As long as an agent honestly believes there is no negligence, the principal can take no action against the agent.

O Yes. Special agents are protected by "agency immunity" when they exercise care in performing their duties.

O No. An agent is liable to the principal for any loss when the agent commingles his property and that of the principal.

O No. An agent is liable because of participation in dual agency.

Question 28

2 pts

Bivens, a civil engineer, was employed by the Lynch Construction Company to survey a building site and to submit drawings to the principal. On the basis

of his drawings, plans were made for a housing development. When building operations commenced, Lynch Construction determined that Bivens had

made gross errors in the survey, causing the company substantial losses. How would a court rule on the point of Bivens liability?

O For Bivens. Independent contractors are immune from the duties of an agent.

O For Lynch. An Agent is required to obey instructions.

O For Lynch. An agent, upon request of the principal, must participate in an accounting.

O For Lynch. An agent is required to exercise a reasonable degree of care and skill.

Question 30

2 pts

Whenever an agent receives anything of value from a third person in connection with agency business:

O It may be retained by the agent unless he or she is uncompensated.

O It belongs to the agent.

O It must be brought to the attention of the principal who then determine how to dispose of it.

O The agent is primarily liable to the third party.

D Question 29 If an agent in the scope of his or her authority makes cash advances to further the principal's business: O The transaction is voidable at the will of the principal. O The principal has a duty to reimburse the agent. O The principal must only reimburse gratuitous agents. O The agent is primarily liable to the third party. D Question 30 Whenever an agent receives anything of value from a third person in connection with agency business: It may be retained by the agent unless he or she is uncompensated. It belongs to the agent. O It must be brought to the attention of the principal who then determine how to dispose of it. O The agent is primarily liable to the third party.. D Question 27 2 pts Kinzig, an attorney, recovered a judgment for Jones and deposited the money in her (Kinzig's) own personal account at Fidelity National Bank, Kinzig sent Jones a personal check, made payable to Jones, for the amount of the judgment. Before the check cleared, however, the bank failed. Jones subsequently brought suit against Kinzing to recover the amount of the judgment, which had been collected by Kinzig. Kinzig defended the action on the grounds that she, as a special agent, was entitled to exercise great discretion in the manner of performing her work; that the loss resulted solely from the bank's falurs and not from personal negligence; and that she had exercised reasonable care in carrying out her duty. Would this be an acceptable defense? O Yes. As long as an agent honestly believes there is no negligence, the principal can take no action against the agent. O Yes. Special agents are protected by "agency immunity" when they exercise care in performing their duties. O No. An agent is liable to the principal for any loss when the agent commingles his property and that of the principal. O No. An agent is liable because of participation in dual agency. Question 28 2 pts Bivens, a civil engineer, was employed by the Lynch Construction Company to survey a building site and to submit drawings to the principal. On the basis of his drawings, plans were made for a housing development. When building operations commenced, Lynch Construction determined that Bivens had made gross errors in the survey, causing the company substantial losses. How would a court rule on the point of Bivens liability? O For Bivens. Independent contractors are immune from the duties of an agent. O For Lynch. An Agent is required to obey instructions. For Lynch. An agent, upon request of the principal, must participate in an accounting. O For Lynch. An agent is required to exercise a reasonable degree of care and skill.. O Question 25 An agency relationship: O exists only when it is in the form of a written document signed by both parties. O can be either compensated or uncompensated. O will not exist if the parties have expressly agreed that they do not intend to create one. O can only be formed by contract. Question 26 After termination of an agency, individual (actual) notice of the termination should be given to: O Those who have dealt with former agent to avoid arising from apparent authority. O Anyone to avoid liability arising from apparent authority. All future customers, otherwise liability will arise from apparent authority. All future customers, otherwise liability will arise from implied authority. Question 23 One of the benefits of agency is that it: O Allows you to transact business in different places simultaneously. O Never needs to be based upon a written agreement. O Eliminates all tax liabilities for the principal if they use an agent with greater legal capacity. Allows one to escape tort liability. Question 24 The agency relationship arises when O Two people agree that one shall be compensated. O Two people agree that one shall work for the benefit but independent of the direction of the other. O Two people agree that one shall be uncompensated. O Two people agree that one shall work for the benefit and under the direction of the other