Stein Has Agreed to Act as an Agent for Tayman

question 1

Multiple Choice

Stein has agreed to act as an agent for Tayman Resources Inc for two years. Under the agreement, Stein is responsible for finding mining claims for Tayman to invest in. During the two- year term, Stein has agreed not to work for anyone else. No other terms have been agreed to in the agency agreement. Which of the following is TRUE?

• A) The agency is terminated at the end of the two- year term.
• B) The agency is terminated if Stein becomes physically unable to look for mining claims for Tayman.
• C) Either Stein or Tayman can terminate the agency on notice to the other.
• D) The agency is terminated if Tayman goes bankrupt.
• E) All of the above.

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Definitions:

Product Availability

The degree to which a product is in stock and available for purchase by consumers at any given time.

Responsiveness

The ability of a system or organization to quickly and effectively adapt to changes in its environment or demand.

Managerial Lever

Tools or mechanisms that managers can utilize to influence outcomes, adjust strategies, or steer organizational performance.

Salvage Value

An estimated resale value of an asset at the end of its useful life.