Please select the correct answers.

_ Select the best answer regarding the law of agency: 0 Where an agent has actual, apparent or an agency relationship formed by ratication, the agent is bound to the terms of an agreement entered into 0 Where an agent has breached their duciary duty, they will be held liable for breach of warranty of authority 0 An agent may not delegate authority if acting as a known agent for a principal and the personal performance of the agent was bargained for 0 An agent may bind a principal to a contract where the principal lacked authority to enter into the contract at the time it was entered into but has capacity at the time of ratication Question 2 1 pts A good partnership agreement may 0 determine the objectives and responsibilities of the partners 0 organize the repayment to third parties of partnership debts 0 set out the priority of claims against the partnership upon dissolution of the partnership 0 limit the liability of any one partner forjoint and several liability Question 3 1 pts Which is the correct answer? Q Where one or more persons carry on business together with a view to prot they will be considered a partnership even if no prot is made 0 In order for a partnership agreement to vary the terms of the Partnership Act, the agreement must be in writing and registered in the appropriate provincial registry Q Where one or more persons carry on business together with a view to prot they may successfully declare in a partnership agreement that they are not liable as partners to any 3rd parties 0 A partnership agreement may relieve a retiring partner of any liability for obligations on behalf of the rm other than for obligations which arose up until the date of retirement Question 4 1 pts You nd a really good deal on the wholesale price of diamonds. Knowing the law of ratication, you purchase $400,000 worth. You can now: 0 Insure that the diamond seller is given a reasonable impression that you have the authority to act on behalf of a principal you have in mind to offer the deal to Q Have a principal accept and ratify the contract for the diamonds 0 Be held liable on the agreement for breach of warranty of authority 0 Sort the diamonds into two lots and offer one lotto a diamond broker you have acted as an agent for in the past _ In regards to an agent's authority, choose the best answer: 0 Express authority must be written to give an agent specic authority to act on behalf of the principal 0 Only a principal can give an agent express or apparent authority to act as an agent 0 An agent may have express authority whereby third parties are led to believe by the agent that they have been given the authority to bind the principal 0 An agent may have apparent authority whereby third parties can assume by the agent that they have been authorized to act on behalf of the principal