1. What are the fiduciary duties of an agent to her principal? Choose 3 answers.

A. accounting

B. obedience

C. indemnification

D. loyalty

2. How does a principal become liable to third parties on contracts?

A. The agent ratifies the contract.

B. The principals agent has the authority to bind the principal in a contract with a third party.

C. A principal is not liable to third parties on contracts.

D. The principal directly signs a contract with a third party.

3. When is an agent liable on a contract that the agent entered into in the business of the agents principal? Choose 3 answers.

A. When the principal is not satisfied with the terms of the contract

B. when the agent is acting without authority

C.if the agent entered into the contract in a personal capacity

D. when the principal is undisclosed