The major parties to an agency relationship are the?

By: |Published on: Dec 14|Categories: Commerce JAMB| 0 comments

A. principal and the creditor
B. bailee and the bailor
C. principal and the agent
D. shareholder and the creditor

Correct Answer:

Option C – principal and the agent

Explanation

This is a business relationship where a principal gives legal authority to an agent to act on the principal’s behalf when dealing with a third party.

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