Theodore, as treasurer of Komand Corporation, had the duty to invest corporate earnings as he deemed best for the company. When Komand Corporation went public, the new board decided that a committee of the officers would make such investment decisions. If Theodore thereafter unilaterally contracted to purchase investment securities with corporate earnings as he had done many times before, such
contract would be valid:
a. since Theodore would have express authority.
b. since Theodore had implied authority.
c. under apparent authority if the seller knew of Theodore's past transactions.
d. because of ratification if the board did not know of his actions.
c
You might also like to view...
The idea behind virtual machines is ________, since the applications can run on any platform that supports the virtual machine
A) platform dependence B) platform independence C) machine independence D) machine dependence
By 2012 it is expected that ____ percent of movie theaters will have made the change to digital technology.
A. 10 B. 20 C. 30 D. 40
The terms used in a fuzzy logic system to describe imprecise states or conditions are referred to as
A) neural networks. B) membership functions. C) inference engines. D) taxonomies. E) tags.
Given the functional dependency (A, B) ? C, then ________
A) A and B together ? C B) A ? C C) B ? A D) Both A and B are correct