Posted: July 20th, 2016

When an agent s authority is apparent?

A. by direct evidence between the parties.
B. from surrounding circumstances.
C. neither (a) nor (b).
D. both (a) and (b).

Question 7
If the seller refuses to deliver the goods called for by the contract, the buyer can:
A. cover.
B. rescind the contract under the UCC.
C. neither (a) nor (b).
D. both (a) and (b).

Question 8
When an agent s authority is apparent:
A. the agent is not liable to anyone.
B. it is also actual.
C. the principal is liable to the third party.
D. none of the above.

Question 9
From a risk standpoint, a shareholder or limited partner is better off than a general partner.
True
False

Question 10
Commercial agents differ from distributors and non agents in that commercial agents:
A. generally do not maintain their own inventory of goods.
B. are usually compensated through the payment of a commission when a sale is completed.
C. agents seldom bear the financial risk of nonpayment by the purchase