Company can take toward enhancing corporate ethics include?

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Reference no: EM132228945

1. The steps a company can take toward enhancing corporate ethics include?

a. eliminating various petty laws that insult individual integrity.?

b. teaching values in the home.?

c. ?insisting that employees adhere to their personal ethics codes.

d. developing and enforcing organizational ethics codes.?

2. Ralph, the owner of a medium-sized business operated as a sole proprietorship, gives his vice-president, Wanda, authority to hire a new manager for the firm. Ralph gives Wanda detailed instructions about the salary she can contract to pay, but tells her that under no circumstances can she make commitments regarding the new manager's pension. Wanda contracts to hire Nick for the new managerial position. But to get Nick to sign up, she has to make certain specific pension commitments to him. Some years later, Nick sues Ralph for failing to fulfill the pension commitments. Which of the following is true in this case?

a. Ralph has no liability, because he expressly told Wanda that she didn't have authority to bind him on pension matters.

b. Ralph is bound on the basis of Wanda's apparent authority.

c. Ralph is bound on the basis of Wanda's implied authority.

d. Ralph is bound on the basis of Wanda's actual authority.

3. Anna hired Juan to act as her sales agent in her auto dealership. However, Anna has instructed Juan not to enter into any sales contracts before she has had a chance to review the transaction. One day, Juan entered into a sales contract with William without informing Anna first. Has Juan created a contract with William that is binding on Anna in this situation?

a. Yes, Juan had actual authority to act.

b. Yes, Juan had express authority to act.

c. Yes, Juan had implied authority to act.

d. Yes, Juan had apparent authority to act.

4. How does agency law stimulate business activity?

a. By binding principals to contracts to create certainty

b. By holding principals accountable for agent actions, protecting consumers

c. By letting principals contract through agents, multiplying their dealings

d. By restricting the liability of principal's for the actions of agents

5. Peter hires Brian and tells Brian that he has the authority to make purchases for Peter's company. Peter tells Brian he is not to consider himself as Peter's agent. Is Brian Peter's agent?

a. Yes, because if a party's conduct indicates an agreement that one person is to act on behalf of and under the control of another, this creates an agency relationship even when the parties expressly say they do not intend to create it.

b. Yes, because Peter hired Brian and employees are always agents of their employers under all circumstances.

c. No, because Brian's authority is limited to making purchases only.

d. No, because Peter expressly said Brian was not to act as his agent.

6. Why is agency important to sole proprietors?

a. Without agency, a sole proprietor's ability to engage in trade would be limited by the need to make purchases and contracts in person.

b. Without agency, which vests a sole proprietor with authority, a sole proprietor would not be able to enter into contracts.

c. Without agency, a sole proprietor's business would die with the proprietor.

d. Agency is not important to sole proprietors because sole proprietors cannot create an agency relationship

Reference no: EM132228945

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