...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...rity, apparent authority traceable to the principal, or ratification; agents owe fiduciary duties. Focus on manifestations, control, reasonable reliance, scope of authority, ratification, and loyalty or care duties. Rest...
Citations: Restatement (Third) of Agency sections 1.01, 2.01, 2.03, 4.01
...es and tests the common misconception that a fair price eliminates an agent's duty to disclose conflicts and secret profits. Restatement (Third) of Agency sections 8.01, 8.02, 8.05
Citations: Restatement (Third) of Agency sections 8.01, 8.02, 8.05
A hotel authorized its purchasing agent to choose a laundry vendor. The agent selected CleanCo, which charged the hotel its ordinary market price. Unknown to the hotel, CleanCo promised the agent a personal $5,000 rebate...
Citations: Restatement (Third) of Agency sections 8.01, 8.02
A manufacturer had allowed its purchasing agent to order steel from the same supplier every month for three years. The manufacturer then privately revoked the agent's authority but did not tell the supplier and left the...
Citations: Restatement (Third) of Agency section 3.11
...ned a deed conveying Warehouse to Buyer and handed the deed to Escrow Agent with written instructions to deliver it to Buyer if Buyer paid the full price by June 1. Owner retained no right to recall the deed. Owner died...
Citations: NCBE MEE Subject Matter Outline, Common law real-property principles
A corporation's articles limit director monetary liability to the fullest extent permitted by statute. A shareholder sues directors for an uninformed decision and separately sues one director for secretly taking a ven...
Citations: Model Business Corporation Act director-liability principles
A trust directs Trustee to pay income to Dana for life and distribute principal to Quinn at Dana's death. Trustee is deciding whether to shift the portfolio into high-dividend bonds or growth stocks. The trust instrum...
Citations: Uniform Trust Code section 803
Corporate officers receive repeated written warnings that a plant is violating safety regulations. They deliberately ignore the warnings because stopping production would reduce quarterly bonuses. Which fiduciary-duty...
Citations: General corporate fiduciary-duty principles
Trustee asked Beneficiary to sign a release approving Trustee's purchase of trust property. Trustee told Beneficiary the price was fair but did not disclose that Trustee was the buyer, that Trustee had obtained a lowe...
Citations: Uniform Trust Code section 1009
...n now." Which statement is most accurate? This question tests trustee duties to inform and account. Uniform Trust Code section 813
Citations: Uniform Trust Code section 813
A corporation considers a consulting contract with a company owned by one director's sibling. The interested director discloses the relationship and leaves the room before disinterested directors vote. Which statement...
Citations: Model Business Corporation Act conflicted-interest principles
A corporation is seeking expansion sites for its retail stores. A director learns through board materials that a prime site is available and leases it personally before telling the corporation. Which statement best de...
Citations: General corporate opportunity principles
A court finds that a corporate officer wrongfully diverted a contract opportunity that belonged to the corporation and earned $600,000 in profit from it. Which remedy is most likely available? The correct answer state...
Citations: General corporate opportunity principles
A director owns a warehouse company. Without disclosing that ownership, the director persuades the corporation to lease space from the warehouse company at above-market rent. Which fiduciary duty is most directly impl...
Citations: General corporate fiduciary-duty principles
A disinterested board studies three expansion options for several weeks, consults management and outside advisers, and selects one. The option later fails. Which statement best describes the directors' likely fiduciar...
Citations: General corporate fiduciary-duty principles
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