Question

Business Law, Fill in the blanks Maria, an accountant, hired Jerod to be her assistant. She...

Business Law,

Fill in the blanks

Maria, an accountant, hired Jerod to be her assistant. She asks Jerod to take her car to the mechanic for repairs. Jerod drives the car to the mechanic, but then turns it around and heads for Atlantic City, where he decides to stay and start a new life. Jerod has likely committed ----------------

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

In this example, Maria is said to be Principal and Jerod is said to be Agent.

The problem in which Agent cheats with Principal after the occurrence of the transaction is called problem of Moral Hazard. This occurs when Principal cannot supervise the actions of the Agent.

Jerod is in a contract of employment with Maria to take care of her essentials. This denotes that the transaction has already occurred between the two.

Jerod's wrong actions and his decision to stay in Atlantic City proves only that Jerod has committed MORAL HAZARD.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Business Law 1- Contacts 21.    Kate is a television meteorologist who lives in Dallas, Texas. She...
Business Law 1- Contacts 21.    Kate is a television meteorologist who lives in Dallas, Texas. She lives in a tidy, post-war neighborhood in east central Dallas that she absolutely loves. Many of her neighbors are elderly, and she looks in on them from time to time to visit and make sure they are doing well. Kate is particularly fond of one of her neighbors, John, who served in World War II and who constantly tells Kate that she reminds him...
business law 1. Assume Eric enters a contract under each of the following circumstances. Which of...
business law 1. Assume Eric enters a contract under each of the following circumstances. Which of them is void, rather than voidable? Doug grabs Eric's hand and physically compels him to sign a contract to buy his dog. Doug lies and tells Eric that his dog is a purebred, when it is actually a mutt, inducing Eric to buy the dog. Doug and Eric both believe that Eric is buying a breeding dog, when the dog is actually infertile. Doug...
Juanita is deciding whether to buy a skirt that she wants, as well as where to...
Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $129 for the skirt: Store Travel Time Each Way Price of a Skirt (Minutes) (Dollars per skirt) Local Department...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president by working to build good work relationships with other managers outside her own department. Brianna's behavior should be viewed as dysfunctional politics. functional politics. coercive power. functional influence. 2 points QUESTION 2 1. The Gingerbread Factory has a separate unit that makes their chocolate crunch cookies and another unit that is completely responsible for all operations in producing their ginger snap cookies. The Gingerbread...
Muffler Magic* Muffler Magic is a fast-growing chain of 25 automobile service centers in Nevada. Originally...
Muffler Magic* Muffler Magic is a fast-growing chain of 25 automobile service centers in Nevada. Originally started 20 years ago as a muffler repair shop by Ronald Brown, the chain expanded rapidly to new locations, and as it did so Muffler Magic also expanded the services it provided, from muffler replacement to oil changes, brake jobs, and engine repair. Today, one can bring an automobile to a Muffler Magic shop for basically any type of service, from tires to mufflers...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described itself as "a quarterly survey of business leaders from across the globe … surveying 11,500 businesses in 40 economies across the globe on an annual basis." 1 According to the 2011 IBR, the Asia Pacific region had a higher percentage (27 percent) of female chief executive officers (CEOs) than Europe and North America. Japan is the only Asia Pacific region exception. The report further...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
Mattel Responds to Ethical Challenges Business Ethics This case was written by Debbie Thorne, John Fraedrich,...
Mattel Responds to Ethical Challenges Business Ethics This case was written by Debbie Thorne, John Fraedrich, O. C. Ferrell, and Jennifer Jackson, with the editorial assistance of Jennifer Sawayda. This case was developed for classroom discussion rather than to illustrate either effective or ineffective handling of an administrative, ethical, or legal discussion by management. All sources used for this case were obtained through publicly available material. Mattel, Inc. is a world leader in the design, manufacture, and marketing of family...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT