BUL 3310 EXAM 3 FSU WOODYARD QUESTIONS AND ANSWERS 2024/2025
2 views 0 purchase
Course
BUL 3310
Institution
BUL 3310
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 l...
When an agent is expressly authorized to act on behalf of the principal through either
written or oral communication.
Fiduciary
A person having a legal duty to act primarily for the benefit of another.
Implied Authority
Actual authority implied from the circumstances.
Independent Contractor
One who is not an employee. He retains in himself the means of producing the result.
Loyalty
Faithfulness to one's office. A duty owed by an agent to a principal.
Master-Servant (employer) relationship
Employer-employee relationship; the relation that develops from an express or implied
employment contract.
Partnership
An association of two or more persons to carry on as co-owners a business for profit.
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.
A power of attorney can only be held by an attorney at law. t/f
False
Independent contractors are subject to more control over their physical conduct than are
employees. t/f
False
Oral agency contracts are invalid. t/f
False
If the agent possesses the requisite capacity to make contracts, any contracts he enters into on
behalf of his principal are not voidable even if the principal is a minor. t/f
False
Principals owe fiduciary duties to agents. t/f
False
Workers' compensation payments are limited to situations where an employee is injured in a
work-related activity. t/f
True
The negligence of a covered employee injured in the course and scope of employment does
not affect his workers' compensation benefits.
True
1|Page| GradeA+ | 2 0 0 2 5
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
