Lorena Is Appointed as an Agent for Milled Grains, Inc
Lorena is appointed as an agent for Milled Grains, Inc. The agency agreement is silent as to the level of sales that Lorena is expected to achieve. She must
A) achieve nothing because the agreement says nothing on the issue.
B) attain the level that Lorena achieved with her previous employer.
C) maintain the level Milled Grains attained before Lorena became an agent.
D) use reasonable diligence and skill in selling.
Dakota Energy Company employs Evan to negotiate the purchase of mineral rights for future mining projects. Evan secretly buys some of the property and sells it to Dakota at a profit. Evan has breached
A) no duty.
B) the agent's duty of accounting.
C) the agent's duty of loyalty.
D) the principal's duty of compensation.
Brenda, a salesperson at a Cabinets & Countertops store, tells D'Antoni, a customer, "Buy your cabinets here, and I'll install them for half of what the store would charge." D'Antoni buys the cabinets, which Brenda installs for half the store's price. Brenda keeps the money. Brenda has breached
A) no duty.
B) the agent's duty of loyalty.
C) the principal's duty of indemnification.
D) the agent's duty of obedience.
Investment Holdings Corporation hires Jeri, a business appraiser, to locate investment possibilities for Investment Holdings. Jeri learns of a salsa and hot sauce manufacturing company available for a reasonable price, but neglects to tell Investment Holdings. Most likely, Jeri
A) breached the agent's fiduciary duties to the principal.
B) did nothing wrong.
C) failed to take advantage of a business opportunity.
D) assumed that the information was confidential.