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:

Variance

A measure of the dispersion or spread of a set of data points, calculated as the average of the squared deviations from the mean.

Mean

A measure of central tendency that is calculated by adding up all the values in a set and then dividing by the number of values.

Standard Deviation

An appraisal of the diversity or spread level exhibited by a collection of figures.

Normally Distributed

Refers to a probability distribution which is evenly shaped around the mean, indicating that occurrences of data close to the mean are more common than occurrences of data distant from the mean.