An agent who acts within the scope of his or her authority on behalf of a disclosed principal is: Blank______.Multiple choice question.personally liable for contractual nonperformancepersonally liable because he or she is a party to the transactionnot liable, but only if the contract expressly excludes the agent from contractual liabilitynot liable for the acts of the principal

In certain situations, the agent is the only party liable for the contract even when the agent acts within his or her authority on behalf of an undisclosed principal. Identify these situations. (Check all that apply.)Multiple select question.The contract expressly excludes the principal from the contract.The third party enters into a contract with the agent such that the agent's performance is required and the third party may reject the performance of the principal.The agent enters into a contract that is a nonnegotiable instrument. The principal or agent knows a third party would enter into a contract with the principal if the principal's identity were disclosed but the agent does not disclose the identity anyway.

Who is liable to a third party if an agent exceeds his or her authority to act on behalf of the principal?Multiple choice question.Neither the agent nor the principalThe principalThe agentAny incidental beneficiary

An agent who exceeds his or her authority when the principal is disclosed or partially disclosed is liable for: Blank______. Multiple choice question.obstruction of justicebreach of implied warrantycriminal wrongdoingbreach of express warranty

Multiple Choice QuestionTwo parties are involved in an agency relationship: The _______ is the one who wishes to have a specific task accomplished; the _______ is the one who acts on behalf of the person to accomplish the task.Multiple choice question.agent; principalplaintiff; defendantprincipal; agentdefendant; plaintiff

In an agency by estoppel, the important factor is whether the principal acts to: Blank______.Multiple choice question.discourage the impression that an agency relationship exists between the partiescreate the impression that the agent has the authority to act on behalf of the principalcreate the impression that an incidental beneficiary will receive a direct contractual benefit via the agentarticulate that there is an express agency agreement