Young Corp. hired Joe Wilson as a sales representative for 6 months at a salary of $5,000 per month plus 6% of sales. Which of the following statements is true?
A. Young does not have the power to dismiss Wilson during the 6-month period without cause.
B. Wilson is obligated to act solely in Young's interest in matters concerning Young's business.
C. The agreement between Young and Wilson is not enforceable unless it is in writing and signed by Wilson.
D. The agreement between Young and Wilson formed an agency coupled with an interest.
Answer: B. Wilson is obligated to act solely in Young's interest in matters concerning Young's business.
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Another name for the International Bank for Reconstruction and Development is:
A) the Recon Bank. B) the European Monetary System. C) the Marshall Plan. D) the World Bank.
Which of the following is not an advantage of the new-venture division structural approach?
A) It can be cost-conscious while still encouraging risk taking and experimentation. B) It is a form of diversification. C) It reduces overhead costs associated with new-venture creation. D) It provides a system for investing in a team assigned specifically to new-venture creation.