​ Which of the Following Statements Is True of Contracts

question 15

Multiple Choice

​ Which of the following statements is true of contracts of agency?

• A)The legal requirements to be an agent are the same in all states.
• B)Corporations cannot act as agents in contracts of agency.
• C)Every agent must possess a valid license authorizing the agent to act as one.
• D)All people legally competent to act for themselves may act through an agent.

---

Definitions:

Modified Rebuy

A buying situation in which the customer’s needs change slightly or they are not completely satisfied with the product they purchased.

Straight Rebuy

A purchasing situation in which a business buyer reorders a product or service from the same supplier without modifications.

Bigger Office

An expansion of workspace typically sought by growing companies to accommodate increased staff, operations, or resources.

Opinion Leader

An individual who influences the opinions, attitudes, or behaviors of others through their expertise, knowledge, or social position.