Which of the Following Is Correct Under the Second Restatement

question 40

Multiple Choice

Which of the following is correct under the Second Restatement with regard to actual notice to a third party of the termination of an agent's authority to act on behalf of the principal?

• A) Publication in a newspaper of general circulation in the area is sufficient if the third party is one with whom the agent had previously dealt on credit.
• B) If notice is given by mail,it is effective as actual notice upon delivery to the third party.
• C) A personal telephone call to the third party will not suffice,because actual notice must be in writing.
• D) Actual notice is not required when the agent has been specially accredited to deal with the third party.

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Definitions:

Pay-for-Performance Plans

Compensation strategies where employees' pay is based on their performance or achievements.

Performance

The execution and completion of tasks and the accomplishment of goals in a given timeframe, often evaluated against a set of standards.

Turnover

The frequency with which staff members exit a firm and are substituted with new hires.

Wage Incentive Plans

Compensation strategies that offer extra pay based on performance, aiming to motivate and increase productivity.