Under the Second Restatement,except in Cases of Death or Incapacity

question 26

Multiple Choice

Under the Second Restatement,except in cases of death or incapacity or where performance of an authorized transaction becomes impossible,actual notice of termination of agency is required to the third party if she is one:

• A) with whom the agent has dealt on credit.
• B) to whom the agent has been specially accredited.
• C) with whom the agent has begun to deal.
• D) All of these.

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Definitions:

Economic Ordering Quantity

The optimal number of units to order to minimize the total costs associated with buying, delivering, and storing inventory.

Inventory Carrying Costs

Inventory carrying costs include all expenses related to holding and storing unsold goods, such as warehousing, insurance, and spoilage.

Ordering Costs

Expenses associated with placing orders for more inventory, including costs related to order processing, communication, and transportation.

Memory Chips

Electronic components used to store data temporarily or permanently in computers and other devices.