Primary function of agent in principal-agent relationship

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Reference no: EM132137201

1. Which governmental entity has primary responsibility for enforcing claims of employment discrimination?

a. The Equal Employment Opportunity Commission

b. The National Labor Relations Board

c. The United States Senate

d. State attorney general's offices

e. County prosecutors

2. Corporations are required to hold shareholders' meetings at least:

a. annually.

b. every six months.

c. twice a year, but they are not required to be held every six months.

d. quarterly.

e. monthly.

3. Which of the following is true about the American Federation of Labor?

a. It was formed in the early part of the twentieth century.

b. When originally formed, only skilled craft workers were allowed to join.

c. All members of other unions are automatically members of it.

d. It is not allowed to engage in political lobbying.

e. Today, approximately 20 percent of private sector wage and salary workers are members.

4. The objective theory of contracts is based on the premise that:

a. even offers made in obvious jest can be the basis of a contract.

b. every contract must have a central object to it.

c. every contract must have consideration given by both parties.

d. whether the intent is present is based on how a reasonable person would view the parties' actions and is not based on the actual intentions of the parties.

e. the intent to be bound is determined after the parties have had a chance to perform the contract.

5. In the 1997 case discussed in the book involving a law restricting the sending of certain sexually oriented information over the Internet, the U.S. Supreme Court ruled that:

a. the Telecommunications Act of 1996 violated the U.S. Constitution for its restrictions on the transfer of indecent material over the Internet.

b. the Communications Decency Act did not violate the U.S. Constitution in any manner.

c. the Communications Decency Act violated the U.S. Constitution for its restrictions on the transfer of indecent material over the Internet.

d. the Internet had grown to a point that it should be placed into private ownership that could contract regarding sexual content with individual service providers.

e. individual states could decide whether the Telecommunications Act of 1996 violated the U.S. Constitution.

7. Which of the following is not characteristic of a valid contract?

a. It can be viewed as private law between the parties.

b. The parties must have the contract's terms approved by the appropriate court.

c. A court will enforce its terms if the parties do not voluntarily perform.

d. It will have at least two parties.

e. There must be mutual assent by the parties.

8. What is the primary function of an agent in a principal-agent relationship?

a. Protect the principal from legal liability.

b. Conduct business on behalf of the principal.

c. Enter into contracts with the principal.

d. Operate as a partner with the principal.

e. Maintain the principal's status quo.

9. The transfer of rights under a contract is called a(n):

a. obligence.

b. assignment.

c. delegation.

d. accord.

e. stipulation.

10. Under the law, a tort can be described as:

a. any violation of an ethical duty.

b. another term for a crime or misdemeanor.

c. any action done in violation of a prior agreement which allows the victim to recover damages.

d. any civil wrong that allows the injured person to recover damages.

e. any conduct by one party that is objected to by another.

11. Which of the following is not a characteristic of a corporation?

a. Limited liability of owners

b. Free transferability of shares

c. Limited period of existence

d. Centralized management

e. Both C and D

Reference no: EM132137201

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