Question: Question 5 An agent who has either actual or apparent authority has the power to bind his principal. True False

Question 5
An agent who has either actual or apparent authority has the power to bind his principal.
True
False
Question 5 An agent who has either actual or apparent authority

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 General Management Questions!

Q:

Please help with this :) 1. REINFORCEMENT ACTIVITY 2, Part A, p. 406 1.Journalize Transactions 2.Purchases and Sales Journals 3.Cash Payments Journal 4.Cash Receipts Journal 5.Post Lines to Ledgers...

Q:

An agency relationship arises when one person (the agent) acts for the benefit of and under the direction of another (the principal).A principal is bound on a contract entered into on his behalf by...

Q:

Please answers the below True/False and Multiple choice questions from Business Law. (Please provide a brief explanation to answers if possible) Chapter: Agency Relationships 1. By definition,...

Q:

FUEL FOR THOUGHT: CLEAN GASOLINE AND DIRTY PATENTS SCOTT H. SEGAL INTRODUCTION One of the most successful air pollution control programs devised for use in the United States is the federal...

Q:

A gratuitous agent has a duty of loyalty but is not liable for any harm caused by his careless performance. An agent must act solely in the interest of his principal in all acts that would affect the...

Q:

An agent who has either actual or apparent authority has the power to bind his principal. True False

Q:

Instructions Prompt: San Diego, Californian is usually a cool 74 degrees year-round. However, an unseasonable cold front has come in from Alaska that has caused San Diego to fall below 50 degrees....

Q:

USING THE I-R-A-C STRUCTURE IN WRITING EXAM ANSWERS The IRAC method is a framework for organizing your answer to a business law essay question. The basic structure is: Issue, Rule, Analysis, and...

Q:

There are two extra credit questions here: one substantive question, and one silly question. These questions are from the resources in the Introduction to Legal Thinking: IRAC document located in the...

Q:

no need explanation just correct answer as soon as possible please My Sprott Shaw - Sprott Sh. x Tn Chapter 6 Study Questions X Homework Help - Q&A from X Homework Help - Q&A from x Homework Help -...

Q:

QUESTION 2 Employees who conduct business with third parties are agents of their employers. True False QUESTION 3 Agency relationships do not exist outside of employment relationships. True False...

Q:

Two drug companies, Murcky and Pfizzier, are each considering releasing a new drug for clinical trials. Each company knows that the other company also has a drug sufficiently developed so that...

Q:

What is the shareholder's basis in S Corp? `Shareholder buys 60% of S corp on 1/1 for 10,000 `Corp has 20,000 long term capital gains `Corp has a taxable income of 50,000 `Corp distribution 20,000 to...

Q:

Firms generally pay a premium when they acquire other firms. This premium affects who benefit from acquisitions. The acquiring firm on the average earn about while the acquired firm generally earn...

Q:

-/1 View Policies Current Attempt in Progress The following amortization and interest schedule reflects the issuance of 10-year bonds by Bridgeport Corporation on January 1, 2014, and the subsequent...