10 Questions
A general power of attorney grants authority to a special agent to perform one particular act.
False
A person appointed as an executor has authority to represent a deceased estate due to an agency agreement.
False
Ostensible authority is also known as unauthorised management.
False
Implied agency arises from the conduct of the agent, not the principal.
False
A principal is bound by a contract entered into by an agent with ostensible authority.
True
Ratification of an unauthorised contract can occur only if the principal was aware of the contract at the time of its formation.
False
A pre-incorporation contract is a contract entered into by an agent on behalf of a principal before the principal's business is incorporated.
False
Estoppel is a doctrine that prevents a principal from denying the authority of an agent with ostensible authority.
True
Unauthorised management, or negotiorum gestio, occurs when an agent acts on behalf of a principal without their authority and with the intention of benefiting the principal.
True
A power of attorney is required for the registration of a deed, but not for the creation of an agency.
True
Understand the principles of agency law, including the relationship between principal and agent, implicit authority, and ostensible authority. Learn about the elements required to establish agency and the rights of parties involved.
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