If Fast Prints Has a Contract with Local Couriers to Deliver

question 97

Multiple Choice

If Fast Prints has a contract with local couriers to deliver their products to customers located throughout the city, this is an example of______ .

• A)forward integration
• B)a market transaction
• C)outsourcing
• D)backward integration

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Definitions:

Implied Agency

A legal relationship formed by the actions of the parties involved rather than by written agreement or document.

Equal Dignity Rule

A legal doctrine requiring that contracts authorizing someone to conduct a transaction must be executed with the same formality as required for the transaction itself.

Statute of Frauds

A legal doctrine requiring certain types of contracts, such as for the sale of land or goods over a certain value, to be in writing to be enforceable.

Respondeat Superior

A legal doctrine holding employers liable for wrongful acts committed by employees while performing their job duties.