1 Jul 2014

Smu mba legal aspects of business sample paper set two

Question: Right of retainer of an agent comes under which section?Response:
Should have chosen
Sec. 217
Sec. 221
Secs. 219 -220
Feedback:Not right answer. Right of retainer of an agent comes under section 217. Refer section 5.5.2
Secs. 222-224
Question: An _________ is a person employed to do any act for another or to represent another in dealing with the third persons.Response:
Should have chosen
Agency by Express Agreement
Agency by Estoppel
Feedback:Not right answer. Agency by estoppel arises where a person by his words or conducts third persons to believe that a certain person is his agent. Refer section 5.2
 Question: Out of below mentioned eligibility criteria of an agent which one is not correct?Response:
Age of majority
Sound mind
Should not have criminal record
Feedback:Not right answer. It is correct eligibility criteria for an agent as he should not have any criminal record. Refer section 5.2.2
Should have chosen
Question: Agency arises where a principal, whether by words or conduct, creates an implication that the agent is entitled to act on the principal's behalf when in fact no such authority actually exists. What sort of agency is described here?Response:
Should have chosen
Ostensible authority
Agency of necessity
Implied authority
Usual authority
Feedback:Not right answer. Ostensible authority is described here. Refer section 5.6.2

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