True/False
Indicate whether the sentence or statement is true
or false.
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1.
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If a
contract is in writing, the agent's authority to perform the same duty must be in
writing.
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2.
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An
agent's authority must be implied for the agent's act to bind a principal.
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3.
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An
agent's authority to act on behalf of a principal derives exclusively from the agent's express
authority.
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4.
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A
principal may confer authority on an agent only in writing.
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5.
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A
power of attorney is a written document.
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6.
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A
power of attorney can be given only by an actual attorney.
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7.
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In
considering the scope of an agent's implied authority, the test is whether the agent reasonably
believed that he or she had the authority.
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8.
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Apparent authority exists if a principal causes a third party to believe reasonably
that an agent has authority to act.
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9.
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The
failure of a principal to affirm promptly an unauthorized transaction by an agent is a ratification
of the transaction.
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10.
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If a
principal does not ratify an unauthorized contract, the principal is not bound.
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11.
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A
disclosed principal is one whose identity is known by a third party with whom a contract is
made.
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12.
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When
an agent enters into a contract on behalf of a principal, the principal must ratify the contract to
be bound to it.
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13.
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A
disclosed principal is not liable to a third party for contracts made by the agent acting
outside the scope of his or her authority.
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14.
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If an
agent acts within the scope of his or her authority, an undisclosed principal is liable to a
third party for contracts made by the agent.
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15.
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An
e-agent is a person.
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16.
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A
principal is liable for harm caused to a third party by an agent who commits a tort while acting in
the scope of his or her employment.
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17.
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Under
the theory of respondeat superior, liability for the wrongful acts of employees within the
scope of their employment is imposed on employers.
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18.
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A
principal is not liable for an agent's crime simply because it was committed while the agent was
acting within the scope of employment.
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19.
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Wrongful termination of an agency relationship can subject the canceling party to a
suit for damages.
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20.
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An
agency relationship is not normally affected when the principal's country and the agent's country are
at war with each other.
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