The Apparent Authority of a General Agent for a Disclosed

question 56

Multiple Choice

The apparent authority of a general agent for a disclosed principal will terminate without notice to third parties when:

• A)the principal dismisses the agent.
• B)the third party has notice of the principal's death.
• C)the purpose of the agency relationship has been fulfilled.
• D)the time period set forth in the agency agreement has expired.

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Definitions:

Fed

The Federal Reserve System, which is the central bank of the United States, responsible for monetary policy.

Bonds

Fixed-income investments representing loans made by an investor to a borrower, typically corporate or governmental, where the borrower agrees to pay back the borrowed funds with interest at a later date.

Money Multiplier

A factor that quantifies the amount of money the banking system generates with each unit of reserves.

Bonds

Financial securities that represent loans made by investors to issuers, typically governments or corporations, which promise to pay back the principal along with interest on specific dates.