Answer the following statement(s) true (T) or false (F)
1. Disputes concerning agency law are typically resolved under the contract or common law of the state where the agency was created.
2. A power of attorney need not be put in writing
3. Unlike most contracts, consideration need not be exchanged to form an agency relationship
4. An agency may be created by ratification when the principal accepts the benefits derived from the agent acting on his or her behalf.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
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