1 Robert sells computers acting as an agent for Steve, who is the owner of the business. Steve has told Robert to get authorization from him for discounts that are more than 10% of the advertised price. Robert just sold a computer with a discount of 20% without first consulting Steve. Which of the following is true?

a.There is a valid contract between Steve and the buyer

b. The buyer must pay 10% more

c. There is no contract

d.There is a valid contract between Robert and the buyer

2 Which of the following is NOT a common law duty of agents?

a.Exercise authority personally

b. Always act in the best interest of the principal

c. Always act in the best interest of the third party

d.Forward any money received to the principal

3 Based on the legal definition of land, is a yard fence considered part of land?

a.Yes

b. No

4 The owners of Lot 1 and 2 want to share a driveway such that part of the driveway will be located on Lot 1 and part of the driveway will be located on Lot 2.What is the name of this interest in land?

a. Easement

b.. Restrictive Covenant

c. Fee simple

d. Lease

5. Bob has entered an agreement in which he has agreed not to grow any trees on his property. This agreement is best described as:

a. An easement

b.A restrictive covenant

c. A mortgage

d.A Fee simple