In Yim V J's Fashion Accessories, Inc

question 350

Multiple Choice

In Yim v. J's Fashion Accessories, Inc., where J's Fashion sued Yim for failing to pay for goods he bought under the name Ho Tae and Yim denied liability on the grounds that he had been acting as an agent for Hosung Enterprise, Inc which also did business under the name Ho Tae, the courts held that Yim was liable because:

• A) the duty to disclose the principal is on the agent and Yim did not disclose Hosung Enterprise, Inc. as the principal
• B) the duty to disclose the principal is on the third party and J's Fashion did not disclose Hosung Enterprise, Inc. as the principal
• C) Hosung Enterprise, Inc. was a limited liability company and so could not be held liable
• D) Yim made the contract without identifying Hosung Enterprise, Inc. as the agent
• E) Yim unlawfully disclosed Hosung Enterprise, Inc. as the principal

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Definitions:

One-time Investment

An investment made with a single lump-sum payment, as opposed to recurring investments.

College Education

Attainment of higher learning and skills obtained by attending an institution of higher education, such as a college or university.

Insurance Settlement

The payment made by an insurance company to a claimant, policyholder, or beneficiary under the terms of the insurance policy.

Present Value

The current financial worth of a forthcoming sum of money or sequence of cash flows, with a particular rate of interest in mind.