Question 3 (1 point) Listen → A(n) trust is an equitable trust imposed on one who wrongfully obtains or holds legal right to property he or she should not possess. 1) resolute 2) Totten 3) constructive 5 4) implied-in-fact 5) absolute 18 Question 4 (1 point) Listen w 3 An agent's implied authority is derived from the agent's authority 6 1) express 9 2) apparent 3) equitable 12 4) statutory 15 5) non-contractual 18 Question 7 (1 point) Listen How long does an agent's apparent authority continue once an agency relationship is terminated? 1) it ends immediately O2) 24 hours 3) 7 days 4) 30 days 5) Until the principal notifies third parties that the agency relationship has ended Question 10 (1 point) Listen Which of the following is false regarding termination of agency based on operation of law? 1) Impossibility of performance terminates the agency relationship. 2) An agency agreement is terminated whenever the agent, unknown to the principal, acquires an interest against the principal's interest. 3) The agency agreement is terminated if the agent breaches the duty of loyalty he or she has to the principal. 4) A change in law passed subsequent to the formation of an agency agreement may not terminate the agency agreement. 5) If there is an unusual change in circumstances that leads the agent to believe that the principal's instructions do not apply, the agency relationship terminates

pur-new-sol

Related Questions