The Concept of Conflict of Interest as It Relates to the Law

question 64

Multiple Choice

The concept of conflict of interest as it relates to the law of agency includes which of the following?

• A) An agent may take a position that conflicts with the principal only if the principal, with full knowledge of all the facts, consents.
• B) An agent may not represent her principal in a transaction in which the agent has a personal interest.
• C) An agent may not act on behalf of adverse parties to a transaction without both principals' approval of the dual agency.
• D) All of these.

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Definitions:

Production Efficiencies

are measures of how well resources are used and managed in the production process to maximize output.

Remanufacturing

Remanufacturing is the process of refurbishing used products to a like-new condition, often involving disassembly, cleaning, repairing, replacing parts, and reassembly.

Materials Cost

Represents the expense associated with the raw materials and components used in the manufacturing of a product.

Mass Customization

A strategy that combines the efficiency of mass production with the personalization of custom-made goods or services, allowing for individual customer preferences at scale.