a few t/f BUSINESS LAW AGENCY TEST I. TRUE/FALSE I. If an agent is acting on beh

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a few t/f

BUSINESS LAW AGENCY TEST I. TRUE/FALSE I. If an agent is acting on behalf of a disclosed principal and is acting with authority, then the principal and the third party will be bound by a contract that the agent negotiates with the third party on behalf of the principal. 2. A principal can generally accomplish through an agent whatever business activity she could accomplish personally 3. The principal generally retains the power to revoke the agent's authority, even though he may be liable for resulting damage to the agent. 4. An employer has a duty to provide an employee with reasonably safe conditions of employment and to warn the employee of any unreasonable risk involved in the employment. 5. Should a principal become bankrupt, the agent's authority will terminate without notice 6. Independent contractors are not subjeet to liability because they are not truly agents 7. Carl Contractor hires Andrew Attorney to negotiate a contract on his behalf. Andrew is both an independent contractor and an agent acting on behalf of Carl. 8. An employer is never liable for intentional torts committed by his employees. . Although the agent has duties to the principal, the principal has no duties to the agent. 10. Ron Realtor is hired by Lyle Landowner to find a purchaser for a 10 acre hobby farm he owns in the country. Two days later, Paula Purchaser comes to Ron and asks him whether he would be willing to be her agent in finding a small acreage in the country for her to buy. Ron agrees. Ron can serve as agent to both Lyle and Paula in arranging a deal between them without violating any of his duties as an agent.

Explanation / Answer

True True True True False- a reasonable notice is required. False True True False True. An agent can act both ways, given he/she doesn't violate any terms of the contract.

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