Which of the following is true regarding situations in which an agent enters into a contract without authority?
a. The principal is not bound nor is the agent bound.
b. The principal is bound and the agent may be personally liable.
c. The principal is not bound, but the agent may personally liable.
d. Neither the principal nor the agent is bound if the contract is oral; but if the contract is written, both the principal and agent are bound.
c
You might also like to view...
In the CAPM, the risk to a stock's return that is attributable to the fluctuations in the overall stock market is referred to as
A. idiosyncratic risk. B. explicit risk. C. systematic risk. D. unsystematic risk.
A contingent liability is recorded if it is probable and can be reasonably estimated
a. True b. False Indicate whether the statement is true or false
Why is the contingency viewpoint important?
What will be an ideal response?
Paul is the owner of a newly-opened theme park. A rival theme park named Sunny Universe has accused Paul of copying its theme and filed a trade-dress infringement suit against Paul
Which of the following should Sunny Universe prove in order to win the case? A) Sunny Universe's theme has been registered with the Patent Office under the Lanham Act of 1947. B) Sunny Universe's theme is primarily functional. C) The theme adopted by Sunny Universe is inherently distinct and has acquired a secondary meaning. D) The theme adopted by Paul's theme park is unlikely to create confusion among customers.