What Is A Distinct Form Of Draft Drawn By A Financial Institution

Question

1. A ______ is a distinct form of draft drawn by a financial institution and payable on demand.

a. Promissory note
b. Check
c. Deed
d. Letter of credit

 

2. Marcus employs a real estate broker, Dean, to sell his house. Dean's express powers are to advertise and market the house for sale, show the house to prospective buyers, and accept offers from people who want to purchase the house. He is not allowed to seal a deal without Marcus's consent. Marcus goes away on a month-long trip during which he cannot be contacted. During this time, a short circuit in the house causes a power outage. Dean uses his authority to hire an electrician to repair the circuits and restore electricity to the house. Marcus then comes back and pays Dean for the electricity repair. What is the nature of the agency that Dean used to fix the electricity problem in the house?

a. Implied agency
b. Agency by ratification
c. Power of attorney
d. Express agency

 

Summary

These multiple choice questions belong to Law. The 1st question discusses about what is a distinct form of draft drawn by a financial institution and the 2nd question discusses about a situation where an agent gets the principal’s property repaired during his absence.

Total Word Count NA

 

Download Full Solution

Comments

  • HWA
    Rasha

    this is a very good website

  • HWA
    maani

    I have 50 questions for the same test your page is showing only 28

  • HWA
    joeanne

    hi can you please help or guide me to answer my assignments. thanks

  • HWA
    joeanne

    hi can anyone help or guide me to my assignments. thanks

  • HWA
    Monik


  • HWA
    Cristina

    This solution is perfect ...thanks

  • HWA
    Janete

    Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes

  • HWA
    Sandeep

    Perfect bank of solution. 

  • HWA
    Oxana

    great !

  • HWA
    Paul Brandon-Fritzius

    thanks for the quick response. the solution looks good. :)

  • HWA
    tina Johnson

    thnx for the answer. it was perfect. just the way i wanted it. 

  • HWA
    Giuseppe

    works fine.