Author a Accepts a $5,000 Advance from a Publisher and a 10

question 113

Multiple Choice

Author A accepts a $5,000 advance from a publisher and a 10% royalty after 5,000 books are sold. Author B foregoes the publisher's advance and negotiates for a 15% royalty on all books sold. Author C decides to self-publish his book and keep 100% of all sales revenue. In what order of risk aversion (from most to least) would you rank these authors?

• A)Author A, Author B, Author C
• B)Author A, Author C, Author B
• C)Author B, Author A, Author C
• D)Author C, Author B, Author A

Recognize the duties and responsibilities of agents and principals in agency relationships.

Distinguish between expressed, implied, and apparent agency, as well as ratification in agency creation.

Identify the legal ramifications for agents and principals who breach their duties.

Examine court rulings on specific agency law cases to understand their implications on practice.

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Definitions:

Deductive Approach

A reasoning process that moves from a general premise to a specific conclusion.

Antagonizing

Actively causing someone to become hostile or creating an adversary unnecessarily.

Perception Of Reality

How individuals interpret the world around them, which can differ significantly from person to person based on experiences and beliefs.

Previous Experiences

The events or activities that an individual has encountered or participated in before the present time, often influencing current behavior or decisions.