1.

A contract of partnership is a contract of agency. A partner acts not only for his co-partners and
the partnership but also as principal of himself.
a. both statements are true
c. first statement is true, second false
b. both statements are false
d. first statement is false, second is true
Answer: A

2.

Mr. Principal delivered to Mr. Agent goods to be sold and for which Mr. Agent has paid the full
price and made profits thereon. The contract is:
a. contract of agency
c. contract of bailment
b. contract of sale
d. conditional sale
Answer: B
3. An agent appointed by the directors of the corporation to act for the corporation is an agent of:
a. the directors
c. corporation
b. the stockholders
d. members
Answer: C
4.

Agency is generally presumed. The authority of a lawyer to appear in an action is presumed.

a. the first is true, the second is false
c. both are false
b. the first is false, the second is true
d. both are true
Answer: B

5.

Is an instrument in writing by which one person, as principal, appoints another as his agent and confers upon him the authority
to perform certain specified acts or kinds of acts on behalf of the principal.
a. special power of attorney
c. letter of attorney
b. letter of authorization
d. authority
Answer: C

6.

Mr. P is in USA and Mr. A is in the Philippines. Mr. A received a duly consularized Special Power of Attorney via LBC by
transmission of Mr. P.
a. there is agency as Mr. A accepted the authority
c. actual receipt is acceptance
b. Mr. As acceptance is not implied from inaction
d. there is agency because the SPA is
consularized
Answer: B

7.

Mr. P publicly advertises that Mr. A is his agent. Which advertisement was known by Mr. X by such advertisement. Mr. P
specially informs Mr. X that Mr. A is no longer connected with him.
a. The revocation of authority is not binding on Mr. X because
c. The revocation of authority must be
the power must be revoked in the same manner it was given
advertised as well
b. The revocation of authority is binding because Mr. X is actually
d. Mr. A is still the agent
informed
Answer: B
8. Agency by estoppel and implied agency are the same. An agent may be estopped deny his agency against his asserted
principal.
a. both statements are true
c. first statement is true, second false
b. both statements are false
d. first statement is false, second is true
Answer: D

9.

Mr. S sold his property to Mr. A who is purportedly the agent of Mr. B. The authority of Mr. A is only verbal. The contract of sale is:
a. valid
c. unenforceable
b. void
d. rescissible
Answer: A

10. Mr. P authorized Mr. A to pick-up his Gucci watch at a store. When Mr. A returned with the
watch he refused to deliver it unless Mr. P pays him.
a. Mr. P must not pay as there is no agreement
c. Mr. P should not pay as it is only a delivery of
as to compensation
a watch
b. Mr. A is entitled to compensation as it is
d. Mr. P should pay as a Gucci watch is
presumed
expensive
Answer: B