Disclosed principal - Study guides, Class notes & Summaries

BUL3310 FSU Bailey Exam 3 Questions With Verified And Updated Solutions. The principal is a fiduciary of the agent. True or False? - answerTrue An agent is a fiduciary of the principal True or False? - answerTrue A principal whose identity is known to a third party is a disclosed principal. True or False? - answerTrue Undisclosed principals have no liability to third parties for contracts negotiated by their agents. True or False? - answerFalse If a third party does not know that he is...

MGMT 311- Honors Exam 2 Questions with Answers Power of Attorney - Answer-special or general - gives an agent express authority (is the best evidence of express authority) - example: signing spouses name - general: lots of power - special: specific Implied Authority - Answer-is reasonably necessary to carry out express authority, and can be conferred by custom or inferred from the agent's position - details that go along with the written contract Apparent Authority - Answer-Authori...

Renunciation of Authority - ️️The act by which a person abandons a right acquired without transferring it to another. Employee - ️️One who works for another under an express or implied contract. The employer has control over the conduct of the employee Actual Authority - ️️Authority an agent actually possesses. Maybe expressed or implied. Agency - ️️Relations in which one person, the agent, acts on behalf of another, the principal. Agency by Estoppel or Apparent Authority...

Complete Solutions Manual for Government and Not-for-Profit Accounting: Concepts and Practices, 9th Edition 9e by Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese. ISBN-13: 3898 1 The Government and Not- for- Profit Environment 1 How Do Governments and Not- For- Profits Compare With Businesses? 2 In Practice: Why Is State And Local Government Accounting Important? 6 What Other Characteristics of Governments and Not- For- Profits Have Accounting Implications? 9 How Do Governments Compare...

Which legal rule will not impose punitive damages on a master for the torts of his servants unless the master himself took some part in the wrongful action? - vicarious liability rule - durham rule - complicity rule - transferred liability rule - ️️Complicity rule When a servant completely abandons the master's work to pursue his own interests, the servant is on ___ - a detour - an outing - a trespass - a frolic - ️️A frolic In contracts negotiated by an agent who is actin...

Rockwell: Washington Real Estate Practices Questions with Verified Answers What is best practice if you don't know the facts to something? To admit that you don't know or remain silent to avoid misrepresentation. If the buyers ask for information that an agent is not legally required to disclose (ex: previous crime in the property), are they required to disclose it upon inquiry? Yes, by duty of good faith. If you know a client has clinical depression and needs a lot of sunlight, ar...

Actual Authority Authority an agent actually possesses. Maybe expressed or implied. Agency Relations in which one person, the agent, acts on behalf of another, the principal. Agency by Estoppel or Apparent Authority Arises where an agent has no actual authority, but the principal leads third parties to believe the agent may act on his behalf. Agent One who acts for the benefit of another. Disclosed Principal Master01 |Excellent Study Material| Latest update 1 | P a g e | © cop...

Pearson vue real estate Exam, Multiple Choice Questions And Correct Answers. If a licensee is paid a salary of $600 per month plus half of the office's 6% fee on all sales, what MUST the licensee's monthly sales be in order for the licensee to receive a total monthly income of $2,220? A. 27,000 B. 37,000 C. 54,000 D. 74,000 An agreement that restricts the use and occupancy of real estate, is part of a conveyance, and is binding on all subsequent buyers is called a(n): A. Agreement for...

14th Amendment - Have to have a basis to treat people, but can still treat people differently 3 Methods by which the Constitution has been amended - Expressly (formal amendment, only 27) By interpretation (Judicial interpretation by Supreme Court) By practice (how things are done historically) 4 Jurisprudential Schools - Historical, Realist, Positivist, Natural Law 4 Principles of Law (Aquinas) - Must be reasonable Must be publicly disclosed Must come from a position of power/ authority ...

Renunciation of Authority - ️️The act by which a person abandons a right acquired without transferring it to another. Power of Attorney - ️️An instrument by which one person appoints another as his agent and confers upon him the authority to perform certain specified acts on behalf of the principal. Power revoked at death. Actual Authority - ️️Authority an agent actually possesses. Maybe expressed or implied. Agency - ️️Relations in which one person, the agent, acts on beh...