Fact Pattern 26-2Berry Indicates That She Is Acting as an Agent

question 40

Multiple Choice

Fact Pattern 26-2Berry indicates that she is acting as an agent on behalf of an unidentified client-Cuisine Catering, LLC-when she enters into a contract with Désean.
-Refer to Fact Pattern 26-2.Cuisine Catering is 

• A) ​a disclosed principal. 
• B) ​an apparent agent
• C) ​an apparent agent. 
• D) ​a partially disclosed principal

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Definitions:

Float Management

The practice of managing the time difference between the writing of a check and its clearing at the bank, aiming to optimize the use of available funds.

Small Firm

A business with a limited number of employees and revenue, often defined within specific legal frameworks based on the industry.

Sources of Float

Sources of float include the time difference between when a payment is initiated and when it is actually cleared and becomes available in a company's bank account, affecting the management of cash flow.

Collection Float

The time period between when a check is deposited and when funds are made available.