Which of the Following Is an Example of an Agency

question 38

Multiple Choice

Which of the following is an example of an agency that is created by express appointment?

• A)Adam is entrusted with Peter's property and finds it necessary to do something with it in order to preserve it.
• B)Peter retrospectively affirms the authority of Adam.
• C)Adam and Peter become partners in a partnership.
• D)Peter appoints Adam under a general power of attorney to carry out a particular transaction on his behalf.

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Definitions:

Remote Event

An occurrence that has a very low probability of happening, often considered insignificant in decision-making processes due to its unlikely nature.

Condition Precedent

A clause in a contract that requires certain conditions to be met before the contract or parts of it becomes enforceable.

Condition Subsequent

A condition in a contract or agreement that, if it occurs, terminates the contract or agreement or changes the parties' obligations under it.

Incidental Damages

Collateral damages that result from a breach of contract, including all reasonable expenses that are incurred because of the breach; damages that compensate a person injured by a breach of contract for reasonable costs he incurs in an attempt to avoid further loss.