Under the (Third) Restatement of the Law of Agency, which of the following does not terminate an agency relationship?
A. War between the principal and agent's countries.
B. An agent's act of filing a bankruptcy petition.
C. Changing circumstances that make it unreasonable to believe the agent has actual authority.
D. Agent fails to obtain a required license.
Answer: B. An agent's act of filing a bankruptcy petition.
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Creditor A agreed to loan Debtor D the money for the purchase of inventory. Debtor D signed a security agreement on October 1. Creditor A filed a financing statement on the goods on October 2. The inventory was shipped FOB place of shipment on October 5. When did the security interest attach?
A. October 1. B. October 2. C. October 5. D. The interest has not attached until tender of the goods to D.
An effective residential property manager would often use all of the following EXCEPT.
A. Accounting procedures B. Knowledge of hazard insurance C. Marketing techniques D. Bond market quotations