Olivia Is Physicians Clinic Agent and Is Not Authorized to Sign

question 41

Multiple Choice

Olivia is Physicians Clinic agent and is not authorized to sign checks or notes on its behalf. Despite the lack of authority, Olivia issues a note "payable to the order of Quik Loan Company [signed] Physicians Clinic, by Olivia." Liability on this note extends to

• A) Physicians Clinic.
• B) Olivia.
• C) Quik Loan.
• D) no one.

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Definitions:

Sufficient Competition

A market situation where there are enough participants to ensure efficient and competitive pricing.

Output

The amount of goods or services produced by a company, industry, or economy within a specified period.

Legal Restrictions

Rules and regulations imposed by law that limit or define the actions individuals or organizations can perform.

Intensity of Competition

The degree of rivalry among firms in a particular market, heavily influencing their pricing, marketing, and product development strategies.