Which of these statements best describes "the law of agency?"
A. The activities of any party who receives a percentage of the profits from a business transaction.
B. A relationship in which someone is authorized by contract to represent another party
C. The duties of a professional who is trained and licensed to prepare legal documents
D. The activities of any licensed insurance professional
Answer: B. A relationship in which someone is authorized by contract to represent another party
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Kim currently lives in Buffalo and works in Rochester, a 60-mile commute each way. Kim accepts a new job in a town outside of Rocherster, and the new commute is 75-miles each way. Kim decides the commute for the new job is too long, and she moves to Rochester. Kim is eligible to deduct her moving expenses
a. true b. false
Kinderfelt Corporation has 15,000 outstanding shares of which Gordon owns 2,000. Kinderfelt plans to raise more capital by issuing another 10,000 shares of stock
With preemptive rights, how many of the new shares does Gordon have the right to buy before they are sold to the public? A) 10,000 B) 3,000 C) 5,000 D) 2,000