LAW ON Agency MCQ PDF

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ACTIVITY: MCQ AGENCYANS # STATEMENTS AND CHOICESB 1 It is a characteristic of a contract of agency where it does not need another contract for its existence. A. Consensual B. Principal C. Nominate D. Bilateral A 2 By such contract, a person binds himself to render some service or to do something in ...

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ACTIVITY: MCQ AGENCY ANS

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STATEMENTS AND CHOICES It is a characteristic of a contract of agency where it does not need another contract for its existence. A. Consensual B. Principal C. Nominate D. Bilateral By such contract, a person binds himself to render some service or to do something in representation or on behalf of another, with the consent or authority of the latter. A. Agency B. Sale C. Obligation D. Agreement Elements of a contact of agency are the following, except; A. Consent B. Object C. Subject D. Representative This person is whom the agent represents and from whom he derives authority. A. Agent B. Third Party C. Accessory D. Principal It is a characteristic of a contract of agency where it is perfected by mere consent. A. Consensual B. Principal C. Nominate D. Bilateral It is the purpose of an agency. A. To act for himself. B. To extend the personality of the third person. C. To conspire against competitors of principal. D. To extend the personality of the principal. It is the basis of an agency. A. Contract B. Representation C. Assertation D. Attestation The following are the nature of agency, except; A. Personal B. Representative C. Prerogative D. Derivative A kind of agency as to manner of its creation where in the agent has been authorized by the principal orally or in writing.

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A. Implied Agency B. Express Acceptance C. Implied Acceptance D. Express Agency It is a characteristic of a contract of agency where it has its own name. A. Consensual B. Principal C. Nominate D. Bilateral The following are requisites where implied agency may arise, except; A. Acts of the principal B. Principal’s non-silence C. Principal’s lack of action D. Principal’s failure to repudiate the agency This person is one who acts and represents the principal. A. Agent B. Third Party C. Accessory D. Principal It is an agency where the agent is not a true agent. A. Implied Agency B. Express Agency C. Agency by Estoppel D. Agency by Dolo The following are requisites where implied acceptance may arise, except; A. Acts of the agent which carry out the agency. B. Agent’s failure to repudiate agency C. Agent’s silence D. Agent’s lack of inaction It is a characteristic of a contract of agency where it creates obligation for the agent to render service and the principal to compensate him. A. Consensual B. Principal C. Nominate D. Bilateral An instrument granting someone authority to act as agent or attorney-in-fact for the grantor A. Agency B. Principal C. Power of Attorney D. Guarantor A way of informing third persons where in a person specially informs another that he has given a power of attorney to a third person. A. Public Advertisement B. Special Information C. Rescission

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D. Indemnification It is an agency where it comprises all the business of the principal. A. Special agency B. Administration C. General Power of attorney D. General Agency Special powers of attorney are necessary in the following cases, except; A. To make such payments as are not usually considered acts of manager. B. The effect of novation which put an ends to obligations already in existence at the time the agency was constituted. C. To waive any obligation gratuitously. D. To make gifts, except for customary ones for charity or those made to employees in the business managed by the agent. It is the act of substituting for an old obligation a new one that either replaces an existing obligation with a new obligation and replaces an original party with a new party. A. Rescission B. Indemnification C. Novation D. Payment It is an agreement between two or more persons who, to avoid a lawsuit, amicably settle their differences on such term as they can agree on. A. Contract of agency B. Negotiation C. Agreement D. Compromise A dispute-resolution process in which the disputing parties choose one or more neutral third parties to make a final and binding decision resolving the dispute. A. Arbitration B. Appeal C. Judgement D. Waiver It is a characteristic of a contract of agency where both parties are obligated to each other except in unilateral contract of agency. A. Unilateral B. Commutative C. Onerous D. Preparatory The voluntary relinquishment or abandonment, express or implied, of a legal right or advantage. A. Arbitration B. Appeal C. Judgement

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D. Waiver The proper or a possible place for a lawsuit to proceed. A. Venue B. Prescription C. Subscription D. Gratuitous It is a way of informing third persons where in a person states by public advertisement that he has given a power of attorney to a third person. A. Public Advertisement B. Special Information C. Rescission D. Indemnification A court’s final determination of the rights and obligations of the parties. A. Arbitration B. Appeal C. Judgement D. Waiver Done or performed without the obligation to do so; given without consideration in circumstances that do not otherwise impose a duty. A. Venue B. Prescription C. Subscription D. Gratuitous A person to whom an agent has delegated the performance of an act for the principal. A. Sub-agent B. Broker C. Guarantor D. Commissions Agent It is a characteristic of a contract of agency where it is burdensome for both parties. A. Unilateral B. Commutative C. Onerous D. Preparatory The management or performance of executive duties of a government, institution, or business. A. Special agency B. Administration C. General Power of attorney D. General Agency A doctrine which means that the measures employed by him and the efforts he exerted must result in the sale. A. Doctrine of measurement B. Doctrine of commission C. Doctrine of initial measurement D. Doctrine of procuring cause

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A person whose only function is to bring the parties to the transaction. A. Commissions Agent B. Principal C. Broker D. Del Credere Agent The effect of lapse of time in creating and destroying rights. A. Venue B. Prescription C. Subscription D. Gratuitous It is a characteristic of a contract of agency where it is entered into by the parties in preparation for another contract. A. Unilateral B. Commutative C. Onerous D. Preparatory A bar that prevents one from asserting a claim or right that contradicts what one has said or done or what has been legally established as true. A. Provision B. Code C. Estoppel D. Oath The following must be established for the existence of an agency by estoppel, except; A. The principal manifested a representation of the agent’s authority or knowingly allowed the agent to assume such authority. B. The agent shall be responsible for any negligence. C. The third person, in good faith, relied upon such representation D. Relying upon such representation, such third person has changed his position to his detriment. Agency is not extinguished even after the death of the principal. A. If the agent acted without the knowledge of the death of the principal. B. The third person who contracted with the agent himself acted in good faith. C. If the agency has been constituted in the interest of the agent himself has accepted the stipulation in his favor. D. If the agency has been constituted in the common interest of the principal and of the agent. An agent whose remuneration is based at least in part on commissions, or percentages of actual sale. A. Commissions Agent B. Principal

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C. Broker D. Del Credere Agent Requisites of solidary liability are the following, except; A. There are two or more principals B. The principals have all concurred in the appointment of the same agent C. The agent is appointed for a common transaction or undertaking. D. There must only be one principal The principal is not liable for the expenses incurred by the agent in the following cases, except: A. If the agent acted in contravention of the principal's instructions, unless the latter should wish to avail himself of the benefits derived from the contract. B. When the expenses were due to the fault of the agent. C. When the agent incurred them with knowledge that an unfavorable result would ensue, if the principal was aware thereof. D. When it was stipulated that the expenses would be borne by the agent, or that the latter would be allowed only a certain sum. Agency is extinguished through the following, except; A. By its revocation. B. By the withdrawal of the sub-agent. C. By the death, civil interdiction, insanity or insolvency of the principal or of the agent. D. By the dissolution of the firm or corporation which entrusted or accepted the agency. An agency where in it comprises of one or more specific transaction. A. Special agency B. Administration C. General Power of attorney D. General Agency The following may be substituted by novation, except; A. New obligation between the same parties B. New agent C. New debtor D. New creditor It is another term for agency by operation of law. A. Assumed agency B. Juridical agency C. Tacit agency D. Agency by estoppel The implied revocation of a contract of agency may be effected by the following, except; A. By the act of the principal in appointing another agent for the same business or transaction. B. By the act of the principal in directly managing the business entrusted to the agent.

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C. By the act of the principal in subsequently granting a special power of attorney as regards the same business to another agent, where he had previously granted a general power of attorney to one agent. D. By the act of the principal in bad faith against the agent. Agency cannot be revoked through the following circumstances, except; A. If an accessory contract depends upon it. B. If a bilateral contract depends upon the agency. C. If it means of fulfilling and obligation already contracted. D. If a partner is appointed manager of partnership in the contract of partnership and his removal from the management is unjustifiable An agent who guarantees the solvency of the third party with whom the agent makes a contract with the principal. A. Commissions Agent B. Principal C. Broker D. Del Credere Agent It authorizes agent to transact business for the principal. A. Special agency B. Administration C. General Power of attorney D. General Agency A requisite for the withdrawal by the agent. A. The agent must give due notice to the principal. B. The agent has been insane. C. The agent must provide proof of incapacity. D. The agent is dead....