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Dahasolnce [82]
3 years ago
8

A consensual fiduciary relationship in which one party acts on behalf of and under the control of another in dealing with third

parties, is the definition of:_______
Business
1 answer:
Jobisdone [24]3 years ago
6 0

Answer: Agency

Explanation: Agency refers to the relationship between an agent and a principal. A principal is someone who is in charge of or owns something. An agent is someone who acts on behalf of the principal in a particular situation. This is a consensual relationship, as the principal requests the agent to act on their behalf. However the agent needs to operate in such a way that there is no conflict of interest between the principal's needs and the agent's needs. The agent has to put the principal's needs first. The agent will then act according to the prinicipal's instructions when dealing with third parties.

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Vince offers to buy a book owned by Sun-Hi for twice what Sun-Hi paid for it. She accepts and hands the book to Vince. Sun-Hi's
Llana [10]

Answer:

Vince and Sun-Hi's Book

With Sun-Hi's delivery of the book, the offer by Vince is accepted by Sun-Hi.

Acceptance of an offer is necessary to make a contract.

Explanation:

An offer by Vince is not a contract, but its acceptance by Sun-Hi without a counter-offer makes it a valid contract that can be enforced in law if other ingredients for a valid contract are present.  Acceptance establishes the agreement between Vince and Sun-Hi.  Once Sun-Hi accepts Vince's offer with valid considerations (the book and double the price), the agreement for a business transaction between them is consummated.  It is acceptance that completes the exchange of promises in this simple contract.

7 0
2 years ago
Owner has a place on his land where he piles trash. The pile has been there for three months. John, a neighbor of Owner, without
exis [7]

Answer:Tort of trespass

Explanation:Tort is used in legal terms to mean an intentional or unintentional wrong commited against a person by another person which must have led to damage or losses to the plaintiff.

Tort of trespass is a civil wrong commited by a person through his interference or unapproved use or entry into another person's space.

JOHN COMMITTED A TORT OF TRESPASS AS HE PENETRATED THE LAND OF HIS NEIGHBOR AND DROPPED TRASH WITHOUT THE CONSENT OF THE NEIGHBOR WHO OWNS THE PROPERTY.

6 0
3 years ago
A woman owns 50 acres of land with 500 feet of frontage on a desirable recreational lake. She wishes to subdivide the parcel int
NNADVOKAT [17]

Answer:

Appurtenant easement

Explanation:

An appurtenant easement grants the dominant tenement the right to use any adjoining property that transfers with the land through the servient tenement.

While the servient tenement provides the easement . the dominant tenement benefits the easement

In the scenario given , the lots are dominant tenement being the beneficiary of the right to use the land while the lake frontage is the servient tenement as it provides the easement for the lots

7 0
2 years ago
Marin, Inc. had net sales in 2017 of $1,425,600. At December 31, 2017, before adjusting entries, the balances in selected accoun
patriot [66]

Answer:

$24,562

Explanation:

Dr Bad Debt Expense $24,562

Cr Allowance for Doubtful Accounts

[(0.11×$240,100)- $1,849] $24,562

7 0
2 years ago
Farmers rotate their crops between corn and soybean to increase crop yields. This behavior exhibits a. ​Economies of scale b. ​D
Anit [1.1K]

Answer:

c. ​Economies of scope

Explanation:

In business, economies of scope refers to producing more than one product or service because you can earn higher profits by diversifying your production. The cost of producing these products together or one after another is lower or yields more benefits than producing them separately.

In agriculture economies of scope refers to producing as many different crops  as you can on the same fields. In the case of soybean and corn (or wheat), the crops are rotated because each crop required different nutrients from the soil.

8 0
3 years ago
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