An Agent Ordinarily Can Act for the Principal in Such

question 259

Multiple Choice

An agent ordinarily can act for the principal in such a way to make the principal legally responsible provided:

• A) The agent is authorized by the principal to act that way.
• B) The agent acts reasonably.
• C) The agent notifies the principal within 24 hours,
• D) The agent is 18 years of age,
• E) All of the above.

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Definitions:

Profit-sharing Plans

Employee benefit plans that provide workers with a share of the company's profits based on its quarterly or annual earnings.

ESOPs

Employee Stock Ownership Plans, which are programs that provide employees with ownership interest in the company.

Pride of Ownership

A sense of satisfaction and accomplishment that individuals feel from owning or being responsible for a particular task or asset.

ESOPs

Acronym for Employee Stock Ownership Plan, a program that gives employees ownership interest in the company through stock ownership, often as an employee benefit.