Question 1

A(n)______________is liable to a third party for a contract made by an agent who had actual authority to act on behalf of the principal.

Accepted Answer

The answer of A(n)______________is liable to a third party for...

Question 2

Because of the duty to inform,an agent must:

Accepted Answer

The duty to inform requires an agent to keep the principal informed of all facts relevant to the agency, including any information that may affect the principal's decisions or interests. Agents must be transparent and upfront about all aspects of the agency relationship.

Question 3

Bill is an attorney in Ohio.Marla hires Bill to create a trust for her children.Bill has not been keeping up with developments in trust law,and so creates an inefficient trust.Under recent Ohio law,he could have created a much more beneficial trust.In this case,Bill:

Accepted Answer

Bill has violated a duty of competence by not keeping up with developments in trust law, which is not explicitly listed among the provided options. Therefore, the correct answer is that none of the other choices accurately describe his violation.

Question 4

The duty of an agent not to mix personal funds with the funds of the principal is the duty:

Accepted Answer

The duty to account requires an agent to keep the principal's funds separate from their own and to provide accurate reporting of all transactions involving the principal's assets. Mixing personal funds with those of the principal would violate this duty.

Question 5

The duty of an agent not to mix personal funds with the funds of the principal is the duty:

Accepted Answer

This duty is not listed as one of the main duties of an agent, such as reasonable care, obedience, loyalty, accounting, and notification. However, an agent may be instructed by the principal to not mix personal funds with the principal's funds, in which case it would become a duty to perform.

Question 6

Bill is an attorney in Ohio.Marla hires Bill to create a trust for her children.Bill has not been keeping up with developments in trust law,and so creates an inefficient trust.Under recent Ohio law,he could have created a much more beneficial trust.In this case,Bill:

Accepted Answer

Bill has violated a duty of reasonable care because as an attorney, he is expected to keep up with developments in his area of practice in order to provide the best possible service to his clients. By not doing so, he created a suboptimal trust for Marla's children.

Question 7

A(n)____________ is one whose identity is known by the third party at the time a contract is entered into with an agent.

Accepted Answer

The correct term for a principal whose identity is known by the third party at the time a contract is entered into with an agent is not provided among the options. The term usually used is "disclosed principal," which is not listed among the choices.

Question 8

In Bearden v.Wardley Corp. ,where Gritton's real estate agent cheated her in a deal,the court held that Wardley,Gritton's employer,violated its _______________ to Bearden:

Accepted Answer

The answer of In Bearden v.Wardley Corp. ,where Gritton's real...

Question 9

A(n)____________ is one whose identity is known by the third party at the time a contract is entered into with an agent.

Accepted Answer

A disclosed principal is one whose identity is known by the third party at the time a contract is entered into with an agent. This means that the agent is acting on behalf of a known principal, and not on his or her own behalf or on behalf of an undisclosed principal.

Question 10

In Bearden v.Wardley Corp. ,where Bearden sued Wardley because one of its agents,Gritton,bought a house from her and then cheated her on the transaction,the court held that:

Accepted Answer

The court held that both Wardley and Gritton owed Bearden fiduciary duties as agents in the transaction, and therefore both were liable for the harm caused to Bearden.

Question 11

In Bearden v.Wardley Corp. ,where Bearden sued Wardley because one of its agents,Gritton,bought a house from her and then cheated her on the transaction,the court held that:

Accepted Answer

The court held that both Gritton and Wardley violated their fiduciary obligations to Bearden, and therefore both are liable. This is because even though Wardley may not have had knowledge of Gritton's actions, as Gritton's employer they are responsible for his actions when he acted within the scope of his employment. Additionally, Gritton breached his duty as an agent to Bearden by cheating her on the transaction.

Question 12

A disclosed principal is a principal whose identity is:

Accepted Answer

The answer of A disclosed principal is a principal whose...

Question 13

In Bearden v.Wardley Corp. ,where Gritton's real estate agent cheated her in a deal,the court held that Wardley,Gritton's employer,violated its _______________ to Bearden:

Accepted Answer

The duty of care requires an employer to exercise reasonable care in preventing harm to individuals who come into contact with its employees in the course of employment. In this case, Wardley was held liable because it failed to exercise reasonable care in hiring and supervising Gritton's real estate agent, which resulted in Bearden's harm. The other options (A, B, and C) are not applicable in this case.

Question 14

A(n)______________is liable to a third party for a contract made by an agent who had actual authority to act on behalf of the principal.

Accepted Answer

A disclosed principal is one whose identity is known to the third party. In this case, the principal is liable for the actions of the agent who had actual authority to act on their behalf. This is the most common type of agency relationship where the agent is acting on behalf of the principal with their knowledge and consent.

Question 15

The duty of an agent to keep his principal informed of all facts relevant to the agency purpose is called the duty:

Accepted Answer

The answer of The duty of an agent to keep...

Question 16

In Bearden v.Wardley Corp. ,where Bearden sued Wardley because one of its agents,Gritton,bought a house from her and then cheated her on the transaction,the court held that:

Accepted Answer

The correct answer is not provided among the options. In cases involving agency law, the principal (in this case, Wardley Corp.) can be held liable for the actions of its agents (like Gritton) if those actions are within the scope of the agent's employment and authority. However, without specific details from the case Bearden v. Wardley Corp. as provided in the options, it's clear that the correct legal principle or outcome is not listed.

Question 17

A disclosed principal is a principal whose identity is:

Accepted Answer

The answer of A disclosed principal is a principal whose...

Question 18

Because of the duty to inform,an agent must:

Accepted Answer

The answer of Because of the duty to inform,an agent...

Question 19

Terry hires an agent,Janet,to sell a piece of property for no less than $50,000 with Janet to receive a 6% commission upon sale.Which of the following is Janet legally permitted to do without Terry's consent?

Accepted Answer

Janet is only permitted to sell the property for no less than $50,000 with Terry's consent. She cannot sell it for a lower amount or purchase it for herself without Terry's permission. Therefore, none of the other choices are legally permitted without Terry's consent.

Question 20

The duty of an agent to keep his principal informed of all facts relevant to the agency purpose is called the duty:

Accepted Answer

The duty to inform requires the agent to keep the principal well-informed and up-to-date on all relevant facts that could affect the agency relationship and the accomplishment of the agency's purpose. It is essential for the principal to make informed decisions and take necessary actions in a timely manner.

Quiz 14: Agency and the Employment Relationship

A(n) ______________is liable to a third party for a contract made by an agent who had actual authority to act on behalf of the principal.

Because of the duty to inform,an agent must:

Bill is an attorney in Ohio.Marla hires Bill to create a trust for her children.Bill has not been keeping up with developments in trust law,and so creates an inefficient trust.Under recent Ohio law,he could have created a much more beneficial trust.In this case,Bill:

The duty of an agent not to mix personal funds with the funds of the principal is the duty:

The duty of an agent not to mix personal funds with the funds of the principal is the duty:

Bill is an attorney in Ohio.Marla hires Bill to create a trust for her children.Bill has not been keeping up with developments in trust law,and so creates an inefficient trust.Under recent Ohio law,he could have created a much more beneficial trust.In this case,Bill:

A(n) ____________ is one whose identity is known by the third party at the time a contract is entered into with an agent.

In Bearden v.Wardley Corp. ,where Gritton's real estate agent cheated her in a deal,the court held that Wardley,Gritton's employer,violated its _______________ to Bearden:

A(n) ____________ is one whose identity is known by the third party at the time a contract is entered into with an agent.

In Bearden v.Wardley Corp. ,where Bearden sued Wardley because one of its agents,Gritton,bought a house from her and then cheated her on the transaction,the court held that:

In Bearden v.Wardley Corp. ,where Bearden sued Wardley because one of its agents,Gritton,bought a house from her and then cheated her on the transaction,the court held that:

A disclosed principal is a principal whose identity is:

In Bearden v.Wardley Corp. ,where Gritton's real estate agent cheated her in a deal,the court held that Wardley,Gritton's employer,violated its _______________ to Bearden:

A(n) ______________is liable to a third party for a contract made by an agent who had actual authority to act on behalf of the principal.

The duty of an agent to keep his principal informed of all facts relevant to the agency purpose is called the duty:

In Bearden v.Wardley Corp. ,where Bearden sued Wardley because one of its agents,Gritton,bought a house from her and then cheated her on the transaction,the court held that:

A disclosed principal is a principal whose identity is:

Because of the duty to inform,an agent must:

Terry hires an agent,Janet,to sell a piece of property for no less than $50,000 with Janet to receive a 6% commission upon sale.Which of the following is Janet legally permitted to do without Terry's consent?

The duty of an agent to keep his principal informed of all facts relevant to the agency purpose is called the duty: