A ____ Is a Small Group of Close, Same-Sex Friends

question 14

Multiple Choice

A ____ is a small group of close, same-sex friends who interact often.

• A)club
• B)mutual stimulation social system
• C)clique
• D)crowd

Recognize the conditions under which a principal’s ratification of a contract can be implied from conduct.

Identify the scenarios in which principals are liable for agents’ misrepresentations.

Understand the concept of direct liability and respondeat superior liability.

Know how express authority is created and utilized in agency relationships.

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Definitions:

P(A)

The probability of an event A occurring in a given statistical experiment or context.

P(B)

P(B) denotes the probability of an event B occurring in the context of probability theory and statistics.

Mutually Exclusive

Describes two events that cannot occur at the same time. The occurrence of one event means the other cannot occur.

Independent Events

Two or more events where the occurrence of one event does not affect the probability of the other events occurring.