To "discharge means that a party no longer has the liability to pay on a negotiable instrument Which of the following events can result in discharging that obligation? a. The instrument has been paid. b. The instrument has been fraudulently altered c. The instrument was missing for 5 days and was found d. Items "a and "b' are true. The Pow Chemical Company operates a large manufacturing facility in Memphis, TN. Bily, the plant manager, has knowingly caused sulfuric acid from the facility to be dumped into the Mississippi River for several years. Which statement is the best response? a. The Pow Chemical Company is liable for Bily's criminal acts b. Bily is solely liable for the dumping of sulfuric acid into the river. C The Environmental Protection Agency (EPA) is responsible since the dumping happened over an extended period of ime and they should have detected it d. Sulfuric acid helps to control algae from growing in the river and keeps barge shipping open. Which statement is true regarding agents? a. An agent is under stricter control than an employee b. An agent is under less control than an employee c. An independent contractor is another form of agent Which of the following is not true regarding the termination of agency? agency relationship b. An agency may be terminaled upon the death of the principal. C. Both partes must agre* to the temination of agency once it is established d An agency may be terminated if the agent Which statement is true regarding agents a. An agent is under stricter control than an employee. b. An agent is under less control than an employee. c. An independent contractor is another form of agent d. Once someone is appointed an agent, they are an agent for life Which of the following is not true regarding the termination of agency? a. Once an agency is terminated, the prinoipal should notify all third parties who knew of the agency relatlonship b. An agency may be terminated upon the death of the principal. c. Both parties must agree to the termination of agency once it is established d. An agency may be terminated if the agent fails to obtain a required certification to carry out his / her duties