Mary Is an Agent for ABC Photography,owned by Phil

question 37

Multiple Choice

Mary is an agent for ABC Photography,owned by Phil.Without disclosing her agency status,Mary agrees by contract to take Polly's wedding photographs.When Phil finds out,he explains the agency relationship he has with Mary to Polly and says that he wants to take the photographs because a lady he wants to ask out on a date is expected to be at the wedding.When Polly finds out,she says "No way - I choose Mary." Which of the following is true regarding the rights of the parties?

• A) Polly has a right to insist that Mary take the photographs because Polly's contract required Mary's services.
• B) Phil has a right to take the photographs only if his contract with Mary expressly provides that he can take over her photo shoots.
• C) Phil has a right to take the photographs.
• D) Phil has a right to take the photographs only if the contract is in an amount over $500.
• E) Phil has a right to take the photographs unless the contract Mary has with Polly is in writing in which case Polly has the right to insist that Mary take the photographs.

Explain the implications of different interest rate environments on bond prices and yields.

Discuss the reasoning and implications behind issuing very long-term bonds.

Articulate various components of a nominal interest rate.

Describe the influence of interest rate risk on bond portfolio management.

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Definitions:

Reward Power

The capacity to offer something of value as a means to influence the behavior of others.

Influence

The capacity to have an effect on the behavior, development, or character of someone or something.

Value

The importance, worth, or usefulness of something, often determining its desirability or the principles held by individuals or organizations.

Positive Face

The desire or need of an individual to be appreciated and approved by others in social interactions.