Question 14

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If you sign a lease to rent an office in a building, you have a __________ in the office.

• fee simple defeasible interest
• devisable interest
• reversionary interest
• possessory interest

Question 13

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Marissa, a principal, hires a new fifth grade teacher for the upcoming school year.

Which type of agent is the new teacher?

• Special agent
• Collection agent
• Employee
• General agent

Question 12

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Jenna has been employed as Rashid's personal assistant for five years. Her job description is vague, but she helps him with many aspects of his day to day life. Jenna knows he likes art, so every year she attends a local art auction and purchases a painting on Rashid's behalf. This year, she buys a painting that is twice as expensive as usual.

Is Rashid responsible for the full price of the painting?

• Yes, due to apparent authority.
• Yes, due to express authority.
• Yes, due to implied authority.
• No, Rashid is not liable.