Regarding the effect of termination of agency on authority, the general rule of the Third Restatement is that:
a. it is reasonable for third parties to assume that an agent's actual authority continues unless and until the third party has notice of circumstances that make it unreasonable to continue that assumption.
b. the termination of actual authority automatically terminates any apparent authority held by the agent.
c. apparent authority ends only upon actual notice, either oral or written, to the third party.
d. apparent authority continues until the third party with whom the agent has previously dealt on credit receives constructive notice of termination.
a
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One major cost of selling goods on account could be
a. cash shortages. b. easy credit. c. accounts payable. d. uncollectible accounts.
In the context of brand name development, which of the following is true about an invented name?
A) It is built from root words and morphemes. B) It aims to evoke a positive attribute or a feeling. C) It is associated with an experience. D) It is based on the names of company founders. E) It strives to build an association between the brand name and the core function of the brand.
Article 3 of the Uniform Commercial Code (UCC) governs the use of negotiable instruments
Indicate whether the statement is true or false
Which form of transportation dominates the industry in terms of revenue?
a. air b. water c. pipeline d. truck e. taxi