Platt inherited $50,000 . She hired an agent and gave the agent specific instructions to invest the money in land. Instead, the agent invested the money in stock, thinking that Platt would get a better return on her money. Is the agent entitled to compensation?
No. An agent who violates the express instructions of the principal is not entitled to compensation.
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According to the VALS system developed by SRI International, ________ are both unsure about themselves and low in socioeconomic status
A) strivers B) survivors C) makers D) thinkers
Under an operating lease, each monthly payment is debited by the lessee to Rent Expense
Indicate whether the statement is true or false
A formal agreement, or ________, is between two or more separate companies in which they agree to work cooperatively toward some common objective.
A. forward integration B. outsourcing C. joint venture D. strategic alliance E. vertical integration
Bob, owner of a small business, goes to Sally to negotiate the purchase of some inventory. Bob
has Paul with him, who he introduces to Sally as "Paul, my purchasing manager". A short while later, Bob says he must leave and says, "You two can conclude this deal." Paul signs a contract to buy 2,500 units of her product. Paul tells Bob, and Bob then says, "You know you weren't supposed to buy more than 1,000 units!" Assume that Bob, in fact, had instructed Paul, prior to meeting with Sally, to not buy more than 1,000 units. Can Sally hold Bob to the contract? A) Yes, because there was apparent authority for the transaction. B) Yes, because there was implied authority for the transaction. C) No, but she can hold him to a purchase of 1,000 units. D) No, because Paul did not have authority to buy 2,500 units.