Sam Hires Joe to Negotiate and Sign a Contract with Ken

question 8

Multiple Choice

Sam hires Joe to negotiate and sign a contract with Ken on Sam's behalf. Which of the following is true?

• A) If Joe acts outside his express authority and negotiates and signs the contract with Ken, Sam may not be a party to that contract.
• B) If Joe acts outside his implied and express authority, Sam will owe him for his services.
• C) If Joe acts within his apparent authority, but outside his express or implied authority, Sam will be bound by the contract, but may sue Joe for breach of his agency contract.
• D) If Joe acts outside express, implied, and apparent authority, Sam is not bound by the contract, even if he ratifies the contract.
• E) If Joe acts outside his express, implied, and apparent authority, he could be sued by Sam, but not by Ken, because he has no contractual relationship with Ken.

Identify the role and function of various digestive enzymes and substances.

Understand the relationship between income changes and the classification of goods as inferior or normal.

Analyze the effects of price changes on consumer demand through the substitution and income effects.

Define and identify Giffen goods and their characteristics.

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Definitions:

Information Technology (IT)

The use of computers, networks, and other electronic devices for storing, retrieving, transmitting, and manipulating data.

Adhocracy

An organizational structure that is flexible and adaptable, often characterized by a lack of formal hierarchy and the ability to respond quickly to changes.

Tasks

Specific duties or assignments that are part of a job or activity, often involving a sequence of steps to be completed.

Operations Technology

The collection of hardware, software, and processes used to produce goods or deliver services efficiently and effectively.