Statement I: If an agent acts in his name, the principal shall have a right of action against the persons with whom the agent has contracted. Statement II: Should there be a stipulation that the agent shall advance the necessary funds, he shall be bound to do so even if the principal is insolvent. Only Statement I is true. Only Statement II is true. Both statements are true. Both statements are false.
Statement I: If an agent acts in his name, the principal shall have a right of action against the persons with whom the agent has contracted. Statement II: Should there be a stipulation that the agent shall advance the necessary funds, he shall be bound to do so even if the principal is insolvent. Only Statement I is true. Only Statement II is true. Both statements are true. Both statements are false.
Business Its Legal Ethical & Global Environment
10th Edition
ISBN:9781305224414
Author:JENNINGS
Publisher:JENNINGS
Chapter12: Contracts And Sales:introduction And Formation
Section12.5: Formation Of Contracts
Problem 5.3CQ
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Statement I: If an agent acts in his name, the principal shall have a right of action against the persons with whom the agent has contracted. Statement II: Should there be a stipulation that the agent shall advance the necessary funds, he shall be bound to do so even if the principal is insolvent.
Only Statement I is true.
Only Statement II is true.
Both statements are true.
Both statements are false.
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