Answered: 1. (The law of Agency) Ali appointed…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Choose the right answer. 1. (The law of Agency) Ali appointed Bakri as his agent. Bakri appointed Citra as his sub agent without Ali's permission. Bakri has caused injury to the third party when performing his duty. Who can the third party sue? a. Ali b. Bakri c. Citra d. Ali and Bakri e. Ali, Bakri and Citra 4. (Law of Contract) Yan wants to borrow RM20,000 from her friend Pang and Pang agrees to lend the money if Yan agrees to pay the money to Cathy, his sister in four installments. The above situation illustrates the principle of __________. a. consideration need not move from the promisee b. part payments are valid consideration c. natural love and affection is valid consideration d. executory consideration is performed after contract is made 12. (The law of Agency) What does "to exercise reasonable care and skill" means? a. To act according to instructions b. To act according to business custom c. To act with diligence d. To act reasonably on time

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