Which of the Following Is True Regarding Situations in Which

question 57

Multiple Choice

Which of the following is true regarding situations in which an agent enters into a contract without authority?

• A) The principal is not bound nor is the agent bound.
• B) The principal is bound and the agent may be personally liable.
• C) The principal is not bound, but the agent may personally liable.
• D) Neither the principal nor the agent is bound if the contract is oral; but if the contract is written, both the principal and agent are bound.

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Definitions:

Fossil Fuels

Natural fuels formed from the remains of living organisms, such as coal, oil, and natural gas.

Gas Hydrate

An icelike solid mixture of water and a natural gas, usually methane.

Coal-bed Methane

A type of natural gas extracted from coal beds, often used for heating and generating electricity.

Oil Shale

A kerogen-bearing, thinly layered, fine-grained sedimentary rock that yields liquid or gaseous hydrocarbons upon heating and distillation.