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502A Agency Quiz 2: Surname First

The document appears to be a quiz about the obligations of agents. It contains 13 true/false questions and asks the student to briefly summarize the obligations of an agent who accepts an agency. Some of the key obligations of an agent include: finishing any business begun by the principal if delay would cause danger after the principal's death; acting as a good father of a family would in caring for goods if not yet appointed an agent; not being required to advance funds if the principal is insolvent; doing what a good father of a family would do if not given instructions; being responsible for the acts of any substitute appointed with power to do so; and the responsibility of multiple agents can be made solidary if expressly stipulated.

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32 views1 page

502A Agency Quiz 2: Surname First

The document appears to be a quiz about the obligations of agents. It contains 13 true/false questions and asks the student to briefly summarize the obligations of an agent who accepts an agency. Some of the key obligations of an agent include: finishing any business begun by the principal if delay would cause danger after the principal's death; acting as a good father of a family would in caring for goods if not yet appointed an agent; not being required to advance funds if the principal is insolvent; doing what a good father of a family would do if not given instructions; being responsible for the acts of any substitute appointed with power to do so; and the responsibility of multiple agents can be made solidary if expressly stipulated.

Uploaded by

Diana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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502A AGENCY QUIZ 2 SurName first ______

CHAPTER 2 - OBLIGATIONS OF THE AGENT


TRUE OR FALSE

1._________ The agent must finish the business already begun on the death of the principal, should
delay entail any danger.

2. ________ In case a person declines an agency, he is not bound to observe the diligence of a good
father of a family in the custody and preservation of the goods forwarded to him by the owner until the
latter should appoint an agent to take charge of the goods.

3. _________ Should there be a stipulation that the agent shall advance the necessary funds, he shall
not be bound to do so when the principal is insolvent.

4. _________ In default of principal’s instructions, the agent shall do what a good father of a family
would do as required by the nature of the business.

5. ________ If there being a conflict between the agent’s interests and those of the principal, the
agent is justified to prefer his own interest and not be liable for damages.

6. ________ If the agent has been authorized to lend money at interest, he can borrow it without the
consent of the principal.

7. ________ A stipulation in the contract may exempt the agent from the obligation to render
accounting

8. _________ The agent may appoint a substitute if the principal has not prohibited him from doing so
and he shall be responsible for the acts of the substitute when he was given such power, but without
designating the person, and the person appointed was notoriously incompetent or insolvent.

9. ________ The acts of the substitute appointed against the prohibition of the principal shall be
voidable.

10. _______ The principal may bring an action against the substitute with respect to the obligations
which the latter has contracted under the substitution.

11. _______ The responsibility of two or more agents, even though they have been appointed
simultaneously, maybe solidary when expressly stipulated.

12. _______ If solidarity has been agreed upon, each of the agents is responsible for the non-
fulfillment of agency, and for the fault or negligence of his fellows agents, except in the latter case
when the fellow agents acted beyond the scope of their authority.

13 – 15 ANSWER BRIEFLY: What are the Obligations of the agent who accepts the
agency?

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