Business Law 3.02: Agency Law Question Preview (ID: 24585)


Business Law 3.02: Agency Law. TEACHERS: click here for quick copy question ID numbers.

Fred represented Harold in a real estate transaction when Harold sold his property to Nancy. In SCENARIO 3.02B, what type of trust does Harold expect of Fred?
a) Actual
b) Apparent
c) Consensual
d) Fiduciary

Fred represented Harold in a real estate transaction when Harold sold his property to Nancy. In SCENARIO 3.02B, who is the agent?
a) Bryan
b) Fred
c) Harold
d) Nancy

Which duty expects employers to properly maintain a healthy work environment?
a) Accounting
b) Obedience
c) Reasonable Skill
d) Reasonable Treatment

Jack asked Tammy to sell his car while he was on vacation. Tammy agreed to become Jack's agent. They had a voluntary, consensual relationship. Tammy DID NOT receive pay for the service. What type of Agent is Tammy?
a) Agent’s agent
b) General agent
c) Gratuitous agent
d) Special agent

Fred represented Harold in a real estate transaction when Harold sold his property to Nancy. In SCENARIO 3.02B, what type of agency exists?
a) Binding
b) Gratuitous
c) Master
d) Partially Disclosed

Jack asked Tammy to sell his car while he was on vacation. Tammy agreed to become Jack's agent. They had a voluntary, consensual relationship. Tammy DID NOT receive pay for the service. What term identifies Jack?
a) Agency
b) Agent
c) Principal
d) Special

Fred represented Harold in a real estate transaction when Harold sold his property to Nancy. In SCENARIO 3.02B, what type of authority does Fred owe Harold?
a) Actual
b) Consensual
c) Fiduciary
d) Good

Troy is identified as Mary’s agent by circumstance and created by law. Which term is used to describe Troy in this situation?
a) Agency by estoppel
b) Independent contracting
c) Negligent hiring
d) Ratification

Fred represented Harold in a real estate transaction when Harold sold his property to Nancy. In SCENARIO 3.02B, who is the third party?
a) Bryan
b) Fred
c) Harold
d) Nancy

Fred represented Harold in a real estate transaction when Harold sold his property to Nancy. In SCENARIO 3.02B, who is the principal?
a) Bryan
b) Fred
c) Harold
d) Nancy

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