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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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