Statement I: The Doctrine of Agency by Necessity states that by virtue of the existence of an emergency, the authority of an agent is correspondingly enlarged in order to cope with the exigencies or necessities of the moment. Statement II: An agent must be armed with a special power of attorney if he waives an obligation gratuitously. Only Statement I is true. Only Statement II is true. Both statements are true. Both statements are false.
Statement I: The Doctrine of Agency by Necessity states that by virtue of the existence of an emergency, the authority of an agent is correspondingly enlarged in order to cope with the exigencies or necessities of the moment. Statement II: An agent must be armed with a special power of attorney if he waives an obligation gratuitously. Only Statement I is true. Only Statement II is true. Both statements are true. Both statements are false.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Statement I: The Doctrine of Agency by Necessity states that by virtue of the existence of an emergency, the authority of an agent is correspondingly enlarged in order to cope with the exigencies or necessities of the moment. Statement II: An agent must be armed with a special power of attorney if he waives an obligation gratuitously.
Only Statement I is true.
Only Statement II is true.
Both statements are true.
Both statements are false.
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