If a time for performance is not stated in the contract, then the contract must be performed…

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If a time for performance is not stated in the contract, then the contract must be performed immediately.
True
False

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1. The type of agency created when one person is falsely represented to be an agent when no such agency relationship exists, is known as:
   Agency by estoppel
   Agency by operation of law
   The equal dignities rule
   Sovereign immunity
2. Which of the following is one of the two questions that must be answered in order to apply the doctrine of respondeat superior?
   Is the alleged tortfeasor engaged in an extremely dangerous activity?
   Is the alleged tortfeasor a servant or an alter ego?
   Is the alleged tortfeasor a servant or independent contractor?
   Is the alleged tortfeasor an agent or a servant?
3. An anticipatory breach occurs when a party to a contract expresses or clearly implies an intention not to perform to contract after being required to act.
   True
   False
4. Which of the following are equitable remedies?
   Monetary damages
   Specific performance
   Specific performance and injunctive relief
   Monetary damages, specific performance, and injunctive relief
5. In which of the following situations may an agent legally appoint a subagent?
   When the case involves coagents
   When the appointment is implied from the nature of the employment
   When the situation involves a nondelegable duty
   When the coagent demands such an appointment
6. When an assignment occurs, the assignee assumes the contractual obligations previously held by the assignor.
   True
   False
7. A person given broad authority to conduct the bulk of a principal’s business is called a:
   Master
   Borrowed servant
   Croprietor
   General agent
8. An agent may terminate an agency relationship by revocation.
   True
   False
9. List the ways an agency can be created.
10. What person may be appointed an agent under a power of attorney?
    Anyone
    Anyone who can lawfully contract in his or her own name
    An attorney only
    Anyone who is approved by the court
11. A substantial or legally sufficient reason for doing something is known as __.
    Revocation
    Renunciation
    Commingling
    Good cause
12. An agency is always:
    Contractual
    Gratuitous
    Consensual
    Binding
13. An agent does not have the authority to represent the principal.
    True
    False
14. A statue that provides for a time limitation for legal action (suits) to be filed, are known as __.
    Statute of Time Limits
    Statute of Limits
    Statute of Limitations
    Limited Statues
15. A transfer of a contract duty is a(n):
    Novation
    Assignment
    Warranty
    Delegation
16. When an agent is appointed by the principal to negotiate and enter into contracts on behalf of the principal, is known as:
    Contractual Liability
    Contractual Responsibility
    Tort Liability
    Criminal Liability
17. A warranty is a promise, statement, or other representation of certain qualities.
    True
    False
18. An individual who is affected by a contract but who does not receive any benefits from it is known as a third party.
    True
    False
19. Express authority may never be indicated by conduct.
    True
    False
20. A transfer of a contract right is called a(n):
    Delegation
    Transfer
    Assignment
    Beneficiary
21. The agent’s duty of loyalty means that the agent cannot act __.
    For two principals
    For more than one year for the same principal
    For two principals in the same transaction
    For an undisclosed principal
22. The range of activities authorized by the pricipal to the agent is known as the _.
    Scope of authority
    Scope of responsibility
    Statement of work
    Scope of work
23. Authority granted to an agent may be express, implied, apparent, or known.
    True
    False
24. An agency coupled with an interest may not be revoked without the consent of all the parties.
    True
    False

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