Marlon intends to sell a piece of real estate he owns and contracts Nita, a real estate broker, to make the sale. In the contract, Marlon authorizes Nita to make the sale at or above a minimum price he wants and the date by which he wants the sale to be completed. The contract also stipulates that Marlon must not hire another broker to sell that piece of land until the expiration of the contract period. Nita finds a suitable buyer, makes the sale in time, and Marlon pays for her services. Which of the following types of agencies had Marlon and Nita entered into?
A. apparent agency
B. agency by ratification
C. implied agency
D. express agency
Answer: D
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Answer the following statements true (T) or false (F)
Individuals accomplish more together than they can accomplish individuals due to synergy.
Mary was getting a ride home in John's new car. On the way, a malfunctioning brake caused an accident and both Mary and John were injured. Which of the following statements is true of this situation?
A. Mary can recover in a strict liability lawsuit against the manufacturer of John's car. B. Mary can file a strict liability lawsuit against John. C. Mary can file a negligence lawsuit against the dealership that sold John his car. D. John can file a negligence lawsuit against the dealership from which he bought the car.
Bruce wants to be sure to keep his audience engaged while delivering his PowerPoint presentation. What should he do?
A) Leave the lights as low as possible so that his audience can see the slides better. B) Design his slides so well that they become the main attraction. C) Look at his slides often to make sure he's not leaving out anything. D) Use a remote clicker so that he can move freely.
On the maturity date, _____.
A. the maturity value of the debt is to be repaid B. the first installment of the installment loan is due C. the interest payment is due D. the market interest rate rises above the coupon rate E. the market price of the bond rises above the face value of the debt