With Respect to Duties Owed by an Agent to His

question 152

Multiple Choice

With respect to duties owed by an agent to his or her principal,which of the following statements is false with regard to agency law?

• A)Failure of an agent to obey his or her principal and to act within the authority given him allows the principal to sue the agent for breach of contract.
• B)When an agent enters a contract on behalf of his principal but does so in breach of his or her duties to the principal,the contract is void and cannot bind the principal.
• C)An agent must use reasonable care,skill,and diligence in the performance of his or her duties as agent.
• D)Generally,an agent may not delegate his or her authority without the authorization of his or her principal.
• E)Failure of an agent to perform his or her duties personally may allow his or her principal to sue the agent for breach of contract.

Analyze the impact of excise taxes on market equilibrium, including changes in price and quantity.

Recognize the elasticity of demand and supply and its role in determining tax incidence.

Understand how excise taxes affect consumer surplus, producer surplus, and deadweight loss.

Identify the relationship between tax rates and tax revenue in the context of elasticity.

---

Definitions:

Company Gate

The primary entry point for individuals into a company's physical premises, symbolizing access control and security measures.

VPN

Virtual Private Network, a technology that creates a safe and encrypted connection over a less secure network, such as the internet, allowing secure remote access to network resources.

Risk Transference

A risk management technique where the potential for loss or damage is shifted from one party to another, often through insurance or contracts.

Security Insurance

Financial products or services that provide protection against losses from cybersecurity incidents or data breaches.