Fact Pattern 10-1 Berry Indicates That She Is Acting as an Agent on an Agent

question 67

Multiple Choice

Fact Pattern 10-1
Berry 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 10-1.Liability to Désean for nonperformance of the contract may be imposed on​

• A) ​none of the choices.
• B) ​Berry and Cuisine Catering.
• C) ​Berry only.
• D) ​Cuisine Catering only.

---

Definitions:

Economic Loss

Represents a decrease in financial wealth, assets, or resources, often resulting from business operations or market changes.

Monopolistically Competitive Firm

A monopolistically competitive firm operates in a market structure where many companies sell products that are similar but not identical, allowing for limited pricing power and competition on quality and branding.

Economic Profits

The total revenue of a firm minus its explicit and implicit costs.

Industry Exit

The process of firms leaving a market or ceasing production in a particular industry, often due to unfavourable market conditions, regulatory changes, or strategic re-alignments.