For an agency agreement to be binding between the principal and agent, what is required and what is the effect if a required element is not met?

2. Discuss the role of the Partnership Act as it relates to people carrying on joint business activities.

3. Explain under what circumstances an agent can be liable for his conduct rather than the principal.

4. Despite its organizational simplicity, sole proprietorships must satisfy many federal, provincial, and municipal requirements to carry on business. List and describe three regulatory requirements.

5. Contrast the obligations and duties of directors and shareholders of a corporation.

6. To what does the term "due diligence" refer?

7. Discuss the role of strikes, lockouts, and picketing, and whether or not they have any place in our present society.