Actual authority arises from what the principal manifests to the agent. O True
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Actual authority arises from what the principal manifests to the agent. O True
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- Please explain 2 and 3 only, and strictly provide examples, thank you!34. Which of the following is derived from statutes? A) Express corporate authority B) Implied corporate authority C) Ultra vires acts D) Exempt actsThe agency relationship occurs when one or more individuals(principal) hire another individual (agent) to perform services on behalf of the principal. 1. The causes of agency problems;
- 13) When husband and wife live together, the law implies that the wife is authorized to use her husband's credit for necessaries suited to their style of living. Based on the above situation, the husband is an agent and the wife is a principal. a) True b) False 14) The person who gave assistance in agency relationship is known as agent. a) True b) False 15) The governing law for contract of sales is Sale of Goods Act 1957. a) True b) False 16) Goods means every kind of immovable property other than actionable claims and money. a) True b) False 17) Faiz meets Farhan, a car dealer and tells him that he wants a car that can move 20km/liter Farhan promotes one of the cars in the showroom and says that it suits the purpose. Faiz buys the car by relying on Farhan's representation. Subsequently Faiz finds that the car can move 15km/liter The above situation is an example of breach of warranty. a) True b) FalseIn the context of the Companies Act 2016, section 221(1) states that every director who is directly or indirectly interested in a contract with the company shall declare the nature of his interest at a meeting of the board of directors. Advise how the director shall declare his interests. Please advise base on section 221(1), 221(4),221(5),221(6),221(7)The overall responsibility of a fiduciary estate manager is to a. make certain that payment of the decedent’s valid creditor’s claims is avoided b. avoid allowing the legitimate claims of non-probate beneficiaries c. minimize estate taxes d. “maximize” the value of the estate for which he or she is responsible for the beneficiaries of that estate
- (3) The rights of minor in the firm is..... a) Not Access to and inspect and copy any of the accounts of the firm b) Access to and inspect and copy any of the accounts of the firm c) Admitted to the benefits of partnershipInsane persons have full contractual capacity.. true or false?88. when may an agent in Florida write controlled business If writing an amount of similar business equal to or greater than If writing an amount of similar business of at least twice the amount of controlled business If accepting no commissions on the controlled business If not advertising to the general public as an insurance agent