What Is the Product of the Following Reaction

question 1

Multiple Choice

What is the product of the following reaction?

• A) I
• B) II
• C) III
• D) IV

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Definitions:

Express Authority

Actual authority that the principal has manifested to the agent in very specific or detailed language.

Implied Authority

Actual authority given to an agent to bind his or her principals and to act in a way that the agent reasonably believes is necessary to perform his or her duties.

Indemnify

To reimburse or promise to reimburse another from loss. To act as security or protection against a loss.

Special Agent

An agent that is employed to conduct a single transaction or a small, simple group of transactions.