Which of the following is true with regard to contractual relations between the principal and a third party?
A) There is no liability on the part of the principal if the agent acts with implied authority.
B) An undisclosed principal and the third party are contractually bound if the agent acts within her actual authority, unless the contract specifies otherwise.
C) Under the Second Restatement, no principal is bound if the agent acts without any authority.
D) A partially disclosed principal is bound only if the agent acts within the scope of actual authority.
B
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Which of the following media is most suitable for having consumers provide input on product design or features?
A) television B) radio C) magazines D) social media E) billboards
Bill owns and operates a farm and a farm machinery dealership. Under the Code, a new tractor that Bill uses on his farm is classified as:
a. farm products. b. inventory. c. consumer goods. d. equipment.
Energy Resources, Inc, operates an oil refinery near Forest River, which flows into Grove Lake. Discharging oil from the refinery into the river can result in an assessment of A) cleanup costs and damages
B) cleanup costs only. C) damages only. D) no cleanup costs or damages.
________ is the concept that two or more people, working together in a coordinated way, can accomplish more than the sum of their independent efforts.
A. Due diligence B. Equity investment C. Synergy D. Duality