47.
(p. 743)
A ______ trust is an equitable trust imposed on one who wrongfully obtains or holds legal
right to property he or she should not possess.
48.
(p. 743)
Which of the following refers to the right of a principal to sue an agent to recover any
amount assessed against the principal for a breach of contract caused by the agent’s
negligence?
49.
(p. 744)
Which of the following may an agent demand if the agent believes that he or she is not
being properly compensated?
50.
(p. 744)
When a contract exists and a principal agrees to certain conditions, but fails to perform,
which of the following would an agent seek in order to attempt to force the principal to perform
the contract as stipulated?
51.
(p. 744)
In non-contractual relationships, which of the following may the agent seek in order to
force the principal to perform the contract?
52.
(p. 731)
What type of agency, if any, did Jane have to act on behalf of Paul as far as Pam is
concerned?
53.
(p. 731–732)
Which of the following is the most likely result if Pam, the wholesaler jeweler,
sues Paul for the price of the pearls?
54.
(p. 731)
Which of the following is the most likely result if Harry sues Paul for the price of the
jacket?
55.
(p. 735)
Which of the following likely represents Jason’s status in regards to his employment with
Nick?
56.
(p. 739)
Did Jason have any legal liability to ABC Computers?
57.
(p. 739)
Which of the following is true regarding any right of reimbursement Jason is due from
Nick?
58.
(p. 740)
Which of the following is the most likely result if Sue sues Ronnie for purchasing the
property from Bruce instead of offering it to her?
59.
(p. 741)
Which of the following is the most likely result if Ronnie sues Sue for the $300 paid to
Rick?
60.
(p. 740)
Which of the following is the most likely result if Sue sues Ronnie for revealing
confidential information?
61.
(p. 743)
What should Sue seek if she wants possession of the lakeside lot Ronnie purchased?
62.
(p. 728)
Discuss why agency is especially important for modern firms doing business in foreign
countries.
63.
(p. 729)
When must agency agreements be in writing?
64.
(p. 733–734)
Set forth the requirements for a finding of agency by ratification and also the
requirements needed for ratification to be effective.
65.
(p. 735–736)
Rita, a lawyer, hired Sam to do general clerical work for her. She maintained
control over his work, gave him day–to-day instructions regarding his duties, paid him on an
hourly basis, and furnished all equipment he needed. Rita for tax purposes claimed Sam as an
independent contractor. She was audited by the IRS who took the position that Sam was an
employee. Is Sam an independent contractor, why or why not, and what is the effect of a finding
of employee or independent contractor as far as the IRS is concerned?
66.
(p. 742)
According to the text, what is required by the duty of accounting an agent owes to a
principal?
