While at a bar in Louisville, Kentucky. Mark gets drunk. The bartender tells Mark that he...

  

Transcribed Image Text:

While at a bar in Louisville, Kentucky. Mark gets drunk. The bartender tells Mark that he can no longer drink at the bar. Mark convinces Mike to buy Mark a beer from the bartender. Mike goes up and buys Mark a beer without telling the bartender that the beer is for Mark? What is Mark's role in this transaction? A. Mark is an express agent. B. Mark is a undisclosed principal. OC. Mark is not a principal. D. Mark is a partially disclosed principal. Jim is an employee of Joe's factory. He is a supervisor with spending authority limited to $10,000. jim must purchase new computer equipment for his department. A company will give the factory a substantial discount on the equipment if they purchase by the next day. joe, the only person who can approve the purchase, is on a hunting vacation in Africa and cannot be reached. Jim orders $30,000 worth of equipment. When Joe returns he is very pleased with Jim's decision and signs off on it. What joe did is called: A Implied authority OB. Apparent authority OC. Express authority OD. Ratification While at a bar in Louisville, Kentucky. Mark gets drunk. The bartender tells Mark that he can no longer drink at the bar. Mark convinces Mike to buy Mark a beer from the bartender. Mike goes up and buys Mark a beer without telling the bartender that the beer is for Mark? What is Mark's role in this transaction? A. Mark is an express agent. B. Mark is a undisclosed principal. OC. Mark is not a principal. D. Mark is a partially disclosed principal. Jim is an employee of Joe's factory. He is a supervisor with spending authority limited to $10,000. jim must purchase new computer equipment for his department. A company will give the factory a substantial discount on the equipment if they purchase by the next day. joe, the only person who can approve the purchase, is on a hunting vacation in Africa and cannot be reached. Jim orders $30,000 worth of equipment. When Joe returns he is very pleased with Jim's decision and signs off on it. What joe did is called: A Implied authority OB. Apparent authority OC. Express authority OD. Ratification

Answer rating: 100% (QA)

The detailed answer for the above question is provided below ... View the full answer