subject: busniess law How is an agent\'s apparent authority derived? Question 12
ID: 1125872 • Letter: S
Question
subject: busniess law
How is an agent's apparent authority derived?
Question 12 options:
The agent causes the 3rd person to believe that the conduct is authorized by his or her words and actions.
The principal causes the 3rd person to believe that the conduct is authorized by his or her words and actions.
The "norms" of the industry cause the 3rd person to believe that the conduct is authorized.
The 3rd person believes that the conduct is authorized because a "reasonable and prudent person" would believe that it is authorized.
Question 13 (2 points)
An agent commits a tort and the injured party sues the principal to recover damages. Which of the following defenses, if established, would shield the principal from liability?
The agent was not in the course and scope of employment when the tort occurred.
The agent's conduct was an extreme deviation from the norm.
The agent had abandoned his or her employment and was of on a "frolic of his or her own."
Any of the above, if proved, would shield the principal from liability.
None of the above. The principal is always liable for the torts committed by his or her agents.
Which of the following is not a per se violation of Section 1 of the Sherman Act?
Price fixing.
Group boycott.
Market division.
Price maintenance agreement.
All of the above are per se violations.
The agent causes the 3rd person to believe that the conduct is authorized by his or her words and actions.
The principal causes the 3rd person to believe that the conduct is authorized by his or her words and actions.
The "norms" of the industry cause the 3rd person to believe that the conduct is authorized.
The 3rd person believes that the conduct is authorized because a "reasonable and prudent person" would believe that it is authorized.
Question 13 (2 points)
An agent commits a tort and the injured party sues the principal to recover damages. Which of the following defenses, if established, would shield the principal from liability?
Question 13 options:The agent was not in the course and scope of employment when the tort occurred.
The agent's conduct was an extreme deviation from the norm.
The agent had abandoned his or her employment and was of on a "frolic of his or her own."
Any of the above, if proved, would shield the principal from liability.
None of the above. The principal is always liable for the torts committed by his or her agents.
Which of the following is not a per se violation of Section 1 of the Sherman Act?
Question 14 options:Price fixing.
Group boycott.
Market division.
Price maintenance agreement.
All of the above are per se violations.
Explanation / Answer
12. How is an agent's authority derived?
The agent causes the 3rd person to believe that the conduct is authorized by his or her words and actions
Apparent authorityd is a condition that comes up when a third party is made tod believe that an agent has the authority to act for another person or compnay but in reality that might not be there.
13.The agent commits tort and the injured party sues the pricipal to recover damages. Which of the following defenses, if established, would shield the principal from liability?
None of the above. The principal is always liable for the torts committed by his or her agents.
Even if the agent does not have the authority for anything regarding the principal, once the contract is being completed, the principal is liable and legally bound by the signed agreement. Even the agents actions and torts are the principal's responsibility.
14. Which of the following is not a per se violation of Section 1 of the Sherman act?
All of the above are per se violations
Section 1 of the Sherman ACt, is the anti trust law passed to safeguard the business activities. All the acts such as fixing of prices, group boycott, market division and any type of agreements are regarded as violations per se.
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