61. Statement 1. Authority of an agent is not considered exceeded if it is advantageous to the principal. Statement 2. Agent is obliged to carry out the agency strictly in accordance with the instructions of the Principal even if it will be disadvantageous to the principal.

2 points

a. Only Statement 1 is TRUE

b. Only Statement 2 is TRUE

c. Both Statements are TRUE

d. Both Statements are FALSE

62. Statement 1. Two agents appointed by a principal for a common agency are as a rule solidarily liable to the principal for consequences of the agency. Statement 2. Two principals appointing one agent for a common agency will be solidarily liable to the agent for consequences of the agency.

2 points

a. Only Statement 1 is TRUE

b. Only Statement 2 is TRUE

c. Both Statements are TRUE

d. Both Statements are FALSE

63. Statement 1. A juridical person may validly enter into a contract of agency either as the principal or the agent. Statement 2. Appointment of a new agent for the sale transactions revokes the prior agency even without due notice to the first agent.

2 points

a. Only Statement 1 is TRUE

b. Only Statement 2 is TRUE

c. Both Statements are TRUE

d. Both Statements are FALSE

64. Statement 1. Act of a sub-agent or substitute appointed by the agent against the prohibition of the Principal, will be valid if performed in accordance with the instructions of the Principal and the Agent. Statement 2. A principal may personally appoint a substitute or sub-agent for his agent.

2 points

a. Only Statement 1 is TRUE

b. Only Statement 2 is TRUE

c. Both Statements are TRUE

d. Both Statements are FALSE

65. Statement 1. Death of any of the parties in a Contract of Agency extinguishes the contract. Statement 2. Ordinary commission is the additional commission given by the Principal to the Agent so that the latter may assume the risks of collection.

2 points

a. Only Statement 1 is FALSE

b. Only Statement 2 is FALSE

c. Both Statements are FALSE

d. Both Statement are TRUE

66. Statement 1. A Special Power of Attorney is necessary for the agent to perform an act of administration. Statement 2. Contract of Agency is always presumed to be for compensation.

2 points

a. Only Statement 1 is FALSE

b. Only Statement 2 is FALSE

c. Both Statements are FALSE

d. Both Statement are TRUE

67. Statement 1. A commission agent who handles goods of the same kind and mark which belong to different owners is required to distinguish them by countermarks. Statement 2. If the commission agent is authorized to sell on credit, he must inform the principal of his credit sales and the names of buyers and their addresses.

2 points

a. Only Statement 1 is FALSE

b. Only Statement 2 is FALSE

c. Both Statements are FALSE

d. Both Statement are TRUE

68. Statement 1. A stipulation to exempt the agent from rendering an account is valid and binding between the principal since it is the "law" between the contracting parties. Statement 2. If the principal is insolvent, the agent can be required to advance the necessary expenses if there is an agreement between the principal and the agent to that effect.

2 points

a. Only Statement 1 is FALSE

b. Only Statement 2 is FALSE

c. Both Statements are FALSE

d. Both Statement are TRUE

69. Statement 1. The agent is required to be in possession of a special power of attorney in order to ratify an obligation contracted after the agency was constituted. Statement 2. The principal is also known as "mandante".

2 points

a. Only Statement 1 is FALSE

b. Only Statement 2 is FALSE

c. Both Statements are FALSE

d. Both Statement are TRUE

70. Statement 1. Arras is a proof of perfection of the contract of sale. Statement 2. In the consummation of a contract of sale, the option money given by the buyer to the seller is deductible from the purchase price.

2 points

a. Only Statement 1 is TRUE

b. Only Statement 2 is TRUE

c. Both Statements are TRUE

d. Both Statements are FALSE