If the third party knows at the time that the contract is made that the agent does not have authority, the principal nonetheless remains liable.

Which of the following was not discussed in the textbook as a reason for creating a trust?

a. Management of the trust property by someone other than him or herself b. Tax savings c. Prevention of a beneficiary from getting property outright d. Creating a will was more expensive

Public policy arguments have been used to render all except which of the following provisions unenforceable?

a. Child support b. Waiver of alimony upon divorce c. Child custody d. Apparent promotion of adultery

A constitution is:

a. A set of principles by which both a state government and the federal government are governed. b. Another word for statute. c. A set of principles by which only a state government is governed. d. A set of principles by which only the federal government is governed.

What are the differences between a limited liability partnership and a limited liability company?

What will be an ideal response?