Agency
Agency Practice Question
When someone authorizes another to act on their behalf, they grant:
A
Promissory noteB
AffidavitC
Attorney-in-factD
Power of attorneyExplanation
Power of attorney is a legal document authorizing one person (the attorney-in-fact) to act on behalf of another person in legal or financial matters.
More Agency Questions
A fiduciary relationship exists between:
Which duty requires an agent to keep the principal informed of all material facts?
Dual agency occurs when:
An agent who exceeds the authority granted by the principal:
A broker who represents both the buyer and seller in the same transaction without the knowledge and consent of both parties is practicing:
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