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Which of the following agent guarantees payment for transaction entered into on half the principal?

Commerce
WAEC 2000

Which of the following agent guarantees payment for transaction entered into on half the principal?

  • A. Auctioneer
  • B. Factor
  • C. Broker
  • D. Del creder
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Correct Answer: Option D
Explanation

A del credere agent is a type of agent who not only negotiates and completes sales on behalf of the principal but also guarantees payment for the transactions. In other words, if the buyer fails to pay, the del credere agent assumes responsibility and compensates the principal for the loss.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts