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| 1 | |
Vadra is an agent of Jones to purchase rare stamps for Jones' collection and has implied authority to have the stamps examined for authenticity. |
| | A) | True |
| | B) | False |
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| 2 | |
Austin, a general manager, cannot delegate the typing of reports to a secretary without the consent of the principal. |
| | A) | True |
| | B) | False |
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| 3 | |
Tyre, as an agent, may use her best judgment even if it means violating the express instructions of Jerry, her principal. |
| | A) | True |
| | B) | False |
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| 4 | |
Austin, an agent for Real Estate associates, may not commingle his personal funds with that of Real Estate Associates. |
| | A) | True |
| | B) | False |
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| 5 | |
Alvin, agent for Matrix Computer Co., stays in a $4000 dollar a day suite while on a business trip. Alvin is no entitled to be reimbursed by Matrix for this expense. |
| | A) | True. |
| | B) | False. |
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| 6 | |
Ann and Charles may not, by mutual agreement, terminate a five-year agency contract three years into the contract. |
| | A) | True |
| | B) | False |
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| 7 | |
Under the UDPA, an agent called an attorney in fact is appointed by signing a written durable power of attorney. |
| | A) | True |
| | B) | False |
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| 8 | |
A contract made by an agent after the principal has died will allow the third party to recover from the estate of the principal. |
| | A) | True |
| | B) | False |
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| 9 | |
John grants Big Bank the power to sell stock that is collateral for a loan. John may only terminate that power by paying the loan in full. |
| | A) | True |
| | B) | False |
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| 10 | |
If Juan does not notify third parties that Angus' agency has terminated, he may be liable for contracts made by Angus after the end of the agency. |
| | A) | True |
| | B) | False |
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