Beta

Flashcards Studio

Write, submit, and receive AI feedback with score breakdowns.

Study Settings View Stats

Grades Left 0 this week

AI Graded 0 this week

Tracked Cards 0 saved

Due Review 0 cards

Source Dividends and Distributions Complete Business Associations List Matched to this deck.

Topic

Question Type

Reader

0 tracked cards Business Associations

A consultant met with a software company and said, "I represent Northlake Bank, and I can sign a five-year licensing deal for the bank today." The bank had never communicated with the software company, had not listed the consultant on its website, and had not given the consultant a bank email address or business card. The software company signed the deal after relying only on the consultant's statement. The bank refused to perform.
Which statement is most accurate?

Choose the Best Answer

The principal is not bound only if the agent also breached a fiduciary duty. The principal is bound because an agent's statement about authority is always enough to create apparent authority. The principal is not bound unless the principal made manifestations that caused a reasonable belief in the agent's authority. The principal is bound because the third party subjectively believed the agent was authorized.

Load another random question

Your Progress

No data Retention

Tracked Cards: 0
Accuracy: No data
Retained: 0

View Detailed Analytics

Difficulty Breakdown

Answer flashcards to build a real score-based difficulty breakdown.

Current Streak 0 Days

Start a streak with this card.

Suggested Decks

View All

Leech Cards

Review

No recent weak flashcards in your saved workbook.

More

Flashcards Studio

Question

Choose the Best Answer

Hello