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KellyV2012
KellyV2012, Bachelor's Degree
Category: Multiple Problems
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Experience:  BS in Business Administration: Options in Accounting & Finance
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11. An agent acting under a power of attorney is referred to

Resolved Question:

11. An agent acting under a power of attorney is referred to as an (Points : 2)
impostor.
attorney-in-fact.
broker.
authority with interest.



12. When the principal's words or conduct leads a third person to reasonably believe that a party is authorized to act as his or her agent but this is not true, and the third person relies on that appearance, this creates a case of (Points : 2)
express authority.
apparent authority.
customary authority.
incidental authority.


13. The type of patent that may be granted to developers or improvers of process or machine inventions is an (Points : 2)
process patent.
functional or utility patent.
improvement patent.
invention patent.


14. Martin, the owner of Ace Transport, a trucking firm, files a voluntary petition for bankruptcy under Chapter 13. If Martin is granted a discharge, all of his included debts will be discharged except claims (Points : 2)
for alimony and support.
arising from embezzlement.
resulting from malicious or willful injury.
all of the above.


15. A corporate debtor must be "out of business" before it can file a bankruptcy petition for reorganization under Chapter 11. (Points : 2)
True
False


16. Which of the following is true? (Points : 2)
An agent has the power to contract on behalf of a principal
An employee generally does not have the power to contract on behalf of the employer
An independent contractor controls work performed by the independent contractor
All of the above are true


17. The filing of a petition for bankruptcy will automatically stay most legal actions against the debtor. (Points : 2)
True
False


18. Jean goes through an involuntary bankruptcy proceeding. An involuntary bankruptcy occurs when (Points : 2)
a court grants a petition in bankruptcy that automatically stays all litigation by creditors against a debtor.
a debtor is unable to pay his or her debts as they come due.
a debtor's creditors force the debtor into bankruptcy proceedings.
a debtor's debts exceed the fair market value of his or her assets.


19. Any individual can be a debtor under Chapter 7. (Points : 2)
True
False


20. The principal duty of a trustee is to liquidate a debtor's estate and distribute the money as quickly as possible. (Points : 2)
True
False
Submitted: 2 years ago.
Category: Multiple Problems
Expert:  KellyV2012 replied 2 years ago.

Hi,

 

Please download the answer below.

 

http://www.box.com/s/8c835f889eb19662b3d6

 

Thanks,

KellyV2012, Bachelor's Degree
Satisfied Customers: 308
Experience: BS in Business Administration: Options in Accounting & Finance
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