1)In a corporation, directors and officers of the company in which they hold their positions have a responsibility to the company, known as:

		dependability.
		duty by proxy.
		fiduciary responsibility.
		shareholder responsibility.

2)In an agency by ratification, a principal cannot accept the __________ of a transaction and refuse to accept the __________.

		benefits, obligations
		benefits, power
		power, liability
		benefits, representation

3)Rachel agrees to purchase a car for $18,000. Rachel and the seller agree that Rachel will return the following day with a license plate to pick up the vehicle. In this case, the title passes:

		at the time of agreement.
		after Rachel drives the vehicle.
		at the time of purchase.
		when Rachel returns with the license plate.