In Relation to Each of the Following Statements,identify the Way

question 15

Essay

In relation to each of the following statements,identify the way in which the agency relationship has been established.
a.X consigned his automobile to Z with instructions to sell same immediately.Z was a mercantile agent.Z used the vehicle as security for a loan from Y,who knew nothing about X or his instructions to Z.
b.Z,a common carrier,transported perishable goods for X.The goods started to spoil,and Z was unable to contact X,who had left the country on an extended vacation.Z sold the goods to Y and received a reasonable price with regard to the condition of the goods.
c.X executes a power of attorney in favour of Z,authorizing Z to sell specific land described in the power of attorney.
d.X,without the authority of Z,sells certain of Z's furniture at a garage sale.Shortly after the sale,Z learns of it and approves of X's actions.

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Definitions:

Internalize

Refers to the process of incorporating external costs or benefits into a company's decision-making process.

ISO 14000

A family of standards related to environmental management systems and tools designed to help organizations minimize negative effects on the environment.

Sustainability

The capacity for systems, processes, and activities to maintain themselves over time and minimize negative environmental impacts.

Recycling Cost

Expenses associated with the collection, sorting, processing, and reuse of materials to prevent waste.