If the law changes such that the actions called for in an agency arrangement become illegal after
the agency has been carried on legally for some period of time, what is the consequence?
A) The agency is not terminated, but the principal and agent will each become liable for his
or her own illegal actions.
B) The agency is not terminated, but the principal and agent will each become liable for the
illegal actions of the other.
C) The agency is terminated effective upon the change in law taking effect.
D) The agency is terminated retroactively and the parties must each return any consideration
received from the other.
E) The agency is terminated retroactively and the parties are left where they are.
C
You might also like to view...
Many consumers are willing to pay $100 for a perfume that contains $10 worth of scent because the perfume is from a well-known brand. What kind of a pricing is the company depending on?
A) going-rate pricing B) image pricing C) market-skimming pricing D) target pricing E) markup pricing
Which ratio should be examined while analyzing the balance sheet to detect underrecording of accounts payable?
a. Long-term debt/Stockholder's equity b. Warranty expense/Sales c. Current assets/Current liabilities d. Various accrual/Related expenses
One of your followers asks to lead the next team brainstorming session and you let him/her do this. You and this follower are ______.
A. in the stranger phase of leadership-making B. in a dyadic in-group relationship C. in a dyadic stranger phase D. in the mature-partnership phase of leadership-making
Subjective probability assessments depend on
A) the total number of trials. B) the relative frequency of occurrence. C) the number of occurrences of the event. D) experience and judgment. E) None of the above