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What is the duty of the principal to the agent in order

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Reference no: EM132943417

Problem 1: What is the duty of the principal to the agent in order to terminate an agency at will?

a. To provide the agent a valid reason for the termination of the agency

b. To give the agent's third parties a notice of the termination of the agency

c. To reimburse the agent for the loss incurred upon termination of the agency by the principal

d. To give the agent reasonable notice of the termination of the agency

Problem 2: When is the principal liable to the third parties for the actions of the agent?

a. When the agent misrepresents the authority to a third party on behalf of the principal

b. When the agent had authority to enter legally binding contacts on behalf of the principal

c. When a third party is injured as a result of the misrepresentation of the facts by the agent

d. When the agent's actions are outside the scope of authority of the agency.

Problem 3: For which reason may the agent be liable in a gratuitous principal-agent relationship?

a. Fiduciary replacement

b. Breach of contract

c. Breach of warranty

d. Negligence

Reference no: EM132943417

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