As Discussed in the Text, Which of the Following Is

question 61

Multiple Choice

As discussed in the text, which of the following is true regarding electronic contracts and agency authority in Singapore?

• A) In Singapore because of the fear of fraud, agents are not allowed to engage in electronic transactions on behalf of principals.
• B) Singapore relies on a type of law similar to U.S. common law in addressing agency authority in regard to electronic transactions.
• C) Singapore passed a law providing that a principal must countersign any electronic transaction engaged in by an agent.
• D) Singapore passed a law providing that each employer must post a list electronically of all its agents with authority to act on its behalf.
• E) Singapore passed a law by which lack of awareness of a principal for an agent's acts is not recognized as a defense.

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Definitions:

Illegal Activity

Illegal activity encompasses actions that violate laws, including crimes such as theft, fraud, and assault, forbidden by societal legal frameworks.

Wasted Resources

A form of inefficiency in which people expend money, effort, and time to cope with the shortages caused by a price ceiling.

Surplus

The amount by which the supply of a product exceeds its demand, often leading to lower prices.

Market For Butter

The economic platform where buyers and sellers engage in the exchange of butter, determining its price and quantity available.