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Question
Intrepid Creations is a product design institute that provides educational courses in package design. It manages to acquire the right to use simulation software from Marco Software for a payment of $2,000 a year. There is no clause of expiration on this arrangement and the right to access the software is renewed annually. Which of the following business arrangements does the aforementioned scenario indicate?A) a licensing arrangement
B) a general partnership
C) a limited partnership
D) a franchise
Answer
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Related questions
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Which of the following is true of a fully disclosed agency?
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B) The third party knows the name of the principal but all transactions are done with the agent.
C) The contract is between the principal, agent, and the third party.
D) The principal is liable on the contract with a third party.
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The ________ is a principal's duty to cover the agent for any losses the agent suffers because of the principal's conduct.
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A) duty to indemnify
B) duty to account
C) duty to reimburse
D) duty to notify
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Which of the following is an instance of misuse of confidential information?
A) An agent gives the seller the principal's name and phone number in a fully disclosed transaction.
B) A principal gives the contact details of an agent to a third-party without the agent's knowledge.
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Which of the following is a course of action for a principal if an agent is found competing with him or her?
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D) The principal is not allowed to recover lost sales due to the agent's competing venture.
Q:
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The agent's actions–not the principal's–create an apparent agency.
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A power of attorney gives an agent the power to sign legal documents on behalf of the principal.
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An express agency contract cannot be orally agreed upon.
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Which of the following is true of an apparent agency?
A) The authority of an apparent agent is implied from the conduct of the parties.
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Which of the following is true about a special power of attorney?
A) It is an implied form of power of attorney.
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The issuer is permitted to assert a due diligence defense against the imposition of Section 11 liability.
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In order to be found guilty for violation of Rule 10b-5, intentional conduct (scienter) must be proven.