The authority of an agent to perform all incidental acts necessary to fulfill the purposes of the agency agreement is called
A) implied authority.
B) declared authority.
C) apparent authority.
D) express authority.
Question 2
Dave and Meagan Philips borrowed 150,000 from Fifth National Bank to help fund the purchase of a new home. The home serves as collateral for the loan. Fifth National has an insurable interest in the home based on
A) potential responsibility for legal liability.
B) being a secured creditor.
C) expectation of ownership.
D) having a contractual right.
The Tennessee Valley Authority
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