John Is an Agent for MegaCorp

question 38

Essay

John is an agent for MegaCorp.He signed a contract on behalf of MegaCorp "John Miloni,as agent for MegaCorp" to purchase $250,000 worth of equipment from Big Machine Company (BMC).Is John liable to BMC if MegaCorp refuses to pay the bill?

---

Definitions:

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment and deflation in most countries.

Production Possibilities Curve

A graphical representation illustrating the maximum quantity of two goods that can be produced within a given period under the conditions of a fixed amount of resources and technology.

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including transportation and communication systems, power plants, and schools.

Unemployment Rate

The proportion of the working sector that lacks employment but is in the hunt for jobs.