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Chapter 17 Agency Law

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CHAPTER 17-AGENCY LAW

TRUE/FALSE

1. Larry decided to relocate to Germany. Larry hired Happy Homes, Inc. to find a buyer and contract for the sale of his house in the U.S. The agency relationship between Larry and Happy Homes must be evidenced with a written agreement.

2. If Denise is hired to work as a cashier, she has the implied authority to do acts reasonably necessary to carry out her job.

3. Erica's supervisor told her to arrange for a conference room at the Kelly Inn. Erica has express authority to contract for the room.

4. An agent must obey all instructions of the principal.

5. Jolene hired Lacy to find a buyer for her house. Adam was interested in buying the house. If both Jolene and Adam agree, Lacy, a real estate agent, may represent both parties.

6. As a general rule, an agent is liable on contracts entered into on behalf of a fully disclosed principal.

7. You cannot be held liable for the actions of your agents if the agents are violating your instructions.

8. If apparent authority is present, the principal is liable for even the unauthorized acts of the agent.

9. The death of an agent automatically terminates an agency relationship.

10. Generally, either party to an agency relationship has the power to terminate it at any time.

11. Rob agrees to act as an agent for Diane in selling her car. Diane has a duty of loyalty to Rob.

12. Kaiya is a sales representative of TriColor. Kaiya owes a fiduciary duty to TriColor.

13. A principal must indemnify an agent for any expenses incurred in carrying out agency responsibilities, but the principal will not be responsible for indemnifying an agent for any expenses not expressly

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