Question 1

If an agent breaches duties owed to the principal,the principal can sue the agent; and the principal may be entitled to a variety of contract and tort remedies beyond those stated in the contract between the principal and agent.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is false regarding a principal's duties to an agent?

Accepted Answer

A)   An agent can sue the principal if the principal does not fulfill duties owed to the agent.
B)   An agent may be entitled to contract remedies but not tort remedies.
C)   If the principal has failed to meet duties owed to the agent, the agent can refuse to act on behalf of the principal until the failure is remedied.
D)   The principal has a duty to compensate an agent for services provided unless the parties have agreed that the agent will act gratuitously.
E)   The principal has a duty of reimbursement and indemnification to the agent for authorized expenditures.F) A) and E)
G) B) and C)

Question 3

Under which of the following does a principal give an agent broad authority to sign legal documents on behalf of the principal?

Accepted Answer

A)   A general power of attorney
B)   A specific order of authority
C)   A localized legal empowerment
D)   A broad power of responeat superior
E)   A recognized power of orderF) C) and D)
G) A) and B)

Question 4

Under which of the following does a principal give authority to an agent only for the specific areas or purposes listed in the agency agreement?

Accepted Answer

A)   A specific power of attorney
B)   An exact order of authority
C)   An exact legal empowerment
D)   A limited power of responeat superior
E)   A specific power of orderF) All of the above
G) A) and E)

Question 5

Agency law is primarily federal law.

Accepted Answer

A) True 
 B)False

Exam 33: Agency Formation and Duties

Under which of the following does a principal give authority to an agent only for the specific areas or purposes listed in the agency agreement?

Correct Answer
verified

If an agent breaches duties owed to the principal,the principal can sue the agent; and the principal may be entitled to a variety of contract and tort remedies beyond those stated in the contract between the principal and agent.

Correct Answer
verified

Under which of the following does a principal give an agent broad authority to sign legal documents on behalf of the principal?

Correct Answer
verified

Which of the following is false regarding a principal's duties to an agent?

Correct Answer
verified

Agency law is primarily federal law.

Correct Answer
verified

Exam 33: Agency Formation and Duties

Under which of the following does a principal give authority to an agent only for the specific areas or purposes listed in the agency agreement?

Correct AnswerverifiedShow Answer

If an agent breaches duties owed to the principal,the principal can sue the agent; and the principal may be entitled to a variety of contract and tort remedies beyond those stated in the contract between the principal and agent.

Correct AnswerverifiedShow Answer

Under which of the following does a principal give an agent broad authority to sign legal documents on behalf of the principal?

Correct AnswerverifiedShow Answer

Which of the following is false regarding a principal's duties to an agent?

Correct AnswerverifiedShow Answer

Agency law is primarily federal law.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified