MCQ

QUESTION 16

The act of forbearance of some deed at the request of the guarantor is usually consideration to the guarantor in a contract of guarantee.

True

False

QUESTION 17

A guarantee occurs when a third party agrees to pay off a loan made to another.

True

False

QUESTION 18

Only independent contractors, not employees, can be agents.

True

False

QUESTION 19

Which of the following statements best describes "e-commerce"?

E-commerce is the fastest growing sector of the economy.

E-commerce includes the delivery of products by computer.

E-commerce is the use of computer networks to facilitate transactions.

Until 1995, e-commerce was almost non-existent.

all of the above

QUESTION 20

Albert is employed by a large construction company and is in charge of purchasing the company's building supplies. When Albert enters into contracts for the company with its suppliers, Albert is

both an agent and an employee of the company.

an independent contractor.

an employee of the company.

an agent of the company.

all of the above