An agency relationship can be formed through the implied Blank______ of the parties.Multiple choice question.authorizationnovationratificationconduct

In an agency relationship the Blank______.Multiple choice question.principal delegates decision making authority to an agentall legal issues have to be approved by a board appointed auditor agentshareholders enter into a legal relationship with each otheragent delegates decision making authority to a principal

An agency by ratification is made when a third party reasonably believes that the "agent" is acting on behalf of the principal and that the principal accepts the acts of the agent. Additionally, the principal must know all the material facts regarding the contract and the principal must: Blank______.Multiple choice question.announce to the third party that the agency relationship existsratify at least part of the agent's actratify the entirety of the agent's actbe present when the terms of the contract are formalized in writing

When an employer hires an employee to enter into contracts on its behalf, this is known as a(n) Blank______ relationship.Multiple choice question.delegator-delegateeemployer-independent contractorprincipal-agentthird-party beneficiary

Regarding an apparent agency, if the principal attempts to deny that an agency relationship existed, the third party must demonstrate that he or she: Blank______.Multiple choice question.acted as if the relationship was an express agencywas expressly informed by the principal that the agency relationship existedreasonably believed, on the basis of the principal's conduct, that the agency relationship existedwas involved in previous litigation in which the judge and/or jury had determined that an agency relationship existed

In an agency by estoppel, the important factor is whether the principal acts to: Blank______.Multiple choice question.discourage the impression that an agency relationship exists between the partiescreate the impression that the agent has the authority to act on behalf of the principalcreate the impression that an incidental beneficiary will receive a direct contractual benefit via the agentarticulate that there is an express agency agreement