Question 29

If John enters into a contract with Jane, who is signing as an authorized agent of XYZ, Inc., but John does not know that Jane is acting as an agent, then, if the contract is breached:

		XYZ, Inc. and Jane are both liable for this contract because XYZ, Inc. is an undisclosed principal
		Only XYZ, Inc. is liable for the contract because it is an authorized act by a duly appointed agent
		Only XYZ, Inc. is liable for the contract because Jane was acting on its behalf when signing
		Only Jane is liable for the contract because XYZ, Inc. is an undisclosed principal

Question 30

Which of the following is NOT an accurate statement about a C-Corporation?

		The C-Corporation can seek investors by selling stock
		The C-Corporation has perpetual life
		The C-Corporation is run by a board of directors
		The C-Corporation provides unlimited liability protection to the owners

Question 31

Which of the following best represents what usury laws do?

		They set a maximum amount of interest under law
		They require that certain fields of business attain licenses to do business
		They prevent people from selling themselves into slavery
		They prohibit the sale of illegal drugs