Statement I: A special power of attorney is an instrument in writing by which one person appoints another as his agent and confers upon him all authority to act on his behalf. Statement II: In both agency by estoppel and implied agency, there is intention to create an agency and the agent acquires all rights and liabilities of a duly appointed agent. Only Statement I is true. Only Statement II is true. Both statements are true. Both statements are false.
Statement I: A special power of attorney is an instrument in writing by which one person appoints another as his agent and confers upon him all authority to act on his behalf. Statement II: In both agency by estoppel and implied agency, there is intention to create an agency and the agent acquires all rights and liabilities of a duly appointed agent. Only Statement I is true. Only Statement II is true. Both statements are true. Both statements are false.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Statement I: A special power of attorney is an instrument in writing by which one person appoints another as his agent and confers upon him all authority to act on his behalf. Statement II: In both agency by estoppel and implied agency, there is intention to create an agency and the agent acquires all rights and liabilities of a duly appointed agent.
Only Statement I is true.
Only Statement II is true.
Both statements are true.
Both statements are false.
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