In an agency relationship, one party called the principal agrees to represent or act for another called the agent. O True O False

Question

05-12-2022
Business

Answered

Find answers to your most challenging questions with the help of IDNLearn.com's experts. Our Q&A platform offers reliable and thorough answers to ensure you have the information you need to succeed in any situation.

In an agency relationship, one party called the principal agrees to represent or act for another called the agent. O True O False

Sagot :

Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. IDNLearn.com provides the answers you need. Thank you for visiting, and see you next time for more valuable insights.

How Much Current Flows In The Circuit If Two Resistors Of 6 Connected In Parallel Aresupplied With Potential Difference Of 12 Volts?

Why Do Political Discussions Of The Twentieth Century Tend To Fixate On Fascism Or Communism and Not On Colonialism?

True Or False: If You Are Changing A Larger Unit Into A Smaller Unit, Like Cm Into Mm, The Decimal Is Moved To The Right Because You Are Multiplying By A Power

At Which Criteria Level Is The Most Important To Observe A Significant Change In Order To Conclude That A Training Program Is Effective

.. A Machine In A Candy Company Creates 9,328 Pieces Of Candy Each Hour. If A Box Of Candy Has 98 Pieces In It, How Many Boxes Does The Machine Make In One Hour

Jalen's Mobile Phone Cost Number Of Minutes, X 150 220 250 275 Cost, Y $7.50 $11.00 $12.50 $13.75 If The Cost Varies Directly With The Number Of Minutes Jalen T

What Are The Mechanisms That Halophiles Typically Employ To Grow In Habitats With High Concentrations Of Salt

Mr. Sanchez Has Just Turned 65 And Is Entitled To Part A But Has Not Enrolled In Part B Because He Has Coverage Through An Employer Plan. If He Wants To Enroll

Which Of The Following Describes The Tax Advantage Of A Qualified Retirement Plan

Which Descriptions From The List Below Accurately Describe The Relationship between AABC And ADEF? Check All That Apply. E 37 B 10 8 5 37 4 534 D A 3 C 53° D 6

KrishnaMitraidn KrishnaMitraidn · Answer 1 · 2022-12-08T15:40:23-05:00

The statement " In an agency relationship, one party called the principal agrees to represent or act for another called the agent." is false.

Give a brief account on agency relationship.

A connection in which one party appoints another to perform tasks on their behalf is known as an agency relationship. The relationship between a principle and an agent is referred to as an agency relationship when the principal grants the agent the authority to act on the principal's behalf. When someone engages a lawyer to handle legal work for them, this is a typical example of an agency relationship. In this case, the agent is able to fulfill the principal's needs thanks to a legal authorization.

There are numerous distinctive traits in agency relationships. These are a few of those qualities:

As a result of the relationship's fiduciary status, trust and confidence are its foundations. To be given the authority to act on behalf of the principal, the agent must have the principal's faith and confidence.
Agency laws control the interaction. These rules make sure that each party fulfils their obligation and complies with their side of the contract. There is a legal connection.
Consensual relationship exist. The relationship cannot exist without both parties' consent.

To know more about, agency relationship, visit :

https://brainly.com/question/13840999

#SPJ1

Sagot :

Give a brief account on agency relationship.

Other Questions