1. The test of an agent\'s express authority is: A. the justifiable belief of th

Question

1. The test of an agent's express authority is: A. the justifiable belief of the agent B. the specific language used by the principal in granting the authority. appearance of authority in the agent created by the principal D. the deduction of the third party dealing with the agent 2. Vlad, as agent, is paid $5,000 owed by a debtor of Lee, Vlad's principal, Instead of giving it immediately to Lee, Vlad invests it in the stock market Luckily, the market price of that particular stock rises to $10,000 before Lee learns of the wrongdoing. Under these circumstances, " A. Vlad cannot be sued as the money was put to good use B. Lee is entitled only to $5000 C. Lee is entitled to all of the stock D. Vlad is not guilty of wrongdoing because he managed to make a profit when a principal is classified as a[n]__ principal, a third party is aware that an agent is making an agreement on behalf of a principal, and the third party also knows the identity of the principal. A. Acknowledged B. Permitted C. Disclosed D. Revealed E. Uncovered 3. Agents who are under the control of their employer or principal as to both the objective of their work and the means used to achieve it are A. distributors B. independent contractors 4. C. employees D. commercial agents

Explanation / Answer

1. The test of an agent’s implied authority is: Option A : The justifiable belief of the agent.

2. Option C is correct. Lee is entitled to all the stock.

3. Option C is correct- Disclosed Pricipal

4. Option c is correct- Employees.

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