Answer these with Only Statement I is true Only Statement II is true Both statements are true Both statements are false Statement I The Doctrine of Agency by Necessity states that by virtue of the existence of an emergency, the authority of an agent is correspondingly enlarged in order to cope with the exigencies or necessities of the moment Statement II An agent must be armed with a special power of attorney if he waives an obligation gratuitously Statement I While services may be the object in a contract, this excludes contracts of sale Statement II An assignment of a credit, right or action produces no effect as against third person unless it appears in a public instrument Statement I Commission del credere is the compensation of a factor agent Statement II An agent acting with authority and in his principal's name may be liable if he personally bound himself as to such act or transaction Statement I An assignment of a credit, right or action produces no effect as against third person unless it appears in a public instrument Statement II The assignment of a credit excludes all the accessory rights, such as a guaranty, mortgage, pledge or preference Statement I When a sale of a piece of land or any interest therein is through an agent, the authority of the latter shall be in writing, otherwise the sale shall be unenforceable Statement II Agency is presumed to be gratuitous unless there is proof to the contrary Statement I If an agent acts in his name, the principal shall have a right of action against the persons with whom the agent has contracted Statement II Should there be a stipulation that the agent shall advance the necessary funds, he shall be bound to do so even if the principal is insolvent Statement I Assignment of credits is unilateral, gratuitous and innominate Statement II The consent of the debtor to the assignment of credit is not required Statement I A special power of attorney is an instrument in writing by which one person appoints another as his agent and confers upon him all authority to act on his behalf Statement II In both agency by estoppel and implied agency, there is intention to created an agency and the agent acquires all rights and liabilities of a duly appointed agent Statement I Every stipulation exempting the agent from the obligation to render an account is void Statement II All acts of the sub agent appointed against the prohibition of the principal is void Statement I Personal acts can be done through an agent because the general rule is that what a man may do in person, he may do thru another Statement II Between persons who are present, the acceptance of the agency may also be implied if the principal delivers his power of attorney to the agent and the latter receives it without any objection Statement I In case of doubt, a contract purporting to be a sale with right of repurchase is construed as an assignment of rights Statement II The creditors of the vendor cannot make use of the right of redemption against the vendee until after exhausting the property of the vendor Statement I Pre emption is exercised after the sale against the vendee Statement II Mere trespass in fact does not give rise to the application of the doctrine of eviction Statement I Instructions contemplate only private rules of guidance to the agent and are independent and distinct from the agent's authority Statement II The liability of the agent for either fraud or negligence shall be judged according to whether the agency was or was not for compensation Statement I The power to compromise does not include the power to submit to arbitration Statement II The power to sell includes the power to mortgage Statement III The power to mortgage includes the power to enter into a 2nd mortgage Statement I Debtor's consent is required before credit is assigned Statement II A gratuitous assignment is in the nature of a donation Statement I A special power of attorney is revoked by a general one granted to another agent Statement II If the agent has been empowered to borrow money, he may himself be the lender

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Answer these with : Only Statement I is true. Only Statement II is true. Both statements are true. Both statements are false. Statement I: The

Answer these with :

Only Statement I is true.

Only Statement II is true.

Both statements are true.

Both statements are false.

Statement I: The Doctrine of Agency by Necessity states that by virtue of the existence of an emergency, the authority of an agent is correspondingly enlarged in order to cope with the exigencies or necessities of the moment. Statement II: An agent must be armed with a special power of attorney if he waives an obligation gratuitously.*
Statement I: While services may be the object in a contract, this excludes contracts of sale. Statement II: An assignment of a credit, right or action produces no effect as against third person unless it appears in a public instrument.*
Statement I: Commission del credere is the compensation of a factor agent. Statement II: An agent acting with authority and in his principal's name may be liable if he personally bound himself as to such act or transaction.*
Statement I: An assignment of a credit, right or action produces no effect as against third person unless it appears in a public instrument. Statement II: The assignment of a credit excludes all the accessory rights, such as a guaranty, mortgage, pledge or preference.*
Statement I: When a sale of a piece of land or any interest therein is through an agent, the authority of the latter shall be in writing, otherwise the sale shall be unenforceable. Statement II: Agency is presumed to be gratuitous unless there is proof to the contrary.*
Statement I: If an agent acts in his name, the principal shall have a right of action against the persons with whom the agent has contracted. Statement II: Should there be a stipulation that the agent shall advance the necessary funds, he shall be bound to do so even if the principal is insolvent.*
Statement I: Assignment of credits is unilateral, gratuitous and innominate. Statement II: The consent of the debtor to the assignment of credit is not required.*
Statement I: A special power of attorney is an instrument in writing by which one person appoints another as his agent and confers upon him all authority to act on his behalf. Statement II: In both agency by estoppel and implied agency, there is intention to created an agency and the agent acquires all rights and liabilities of a duly appointed agent.*
Statement I: Every stipulation exempting the agent from the obligation to render an account is void. Statement II: All acts of the sub-agent appointed against the prohibition of the principal is void.*
Statement I: Personal acts can be done through an agent because the general rule is that what a man may do in person, he may do thru another. Statement II: Between persons who are present, the acceptance of the agency may also be implied if the principal delivers his power of attorney to the agent and the latter receives it without any objection*
Statement I: In case of doubt, a contract purporting to be a sale with right of repurchase is construed as an assignment of rights. Statement II: The creditors of the vendor cannot make use of the right of redemption against the vendee until after exhausting the property of the vendor.*
Statement I: Pre-emption is exercised after the sale against the vendee. Statement II: Mere trespass in fact does not give rise to the application of the doctrine of eviction.*
Statement I: Instructions contemplate only private rules of guidance to the agent and are independent and distinct from the agent's authority. Statement II: The liability of the agent for either fraud or negligence shall be judged according to whether the agency was or was not for compensation.*
Statement I: The power to compromise does not include the power to submit to arbitration. Statement II: The power to sell includes the power to mortgage. Statement III: The power to mortgage includes the power to enter into a 2nd mortgage.*
Statement I: Debtor's consent is required before credit is assigned. Statement II: A gratuitous assignment is in the nature of a donation.*
Statement I: A special power of attorney is revoked by a general one granted to another agent. Statement II: If the agent has been empowered to borrow money, he may himself be the lender.*