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A person who earns extra commission for guaranteeing debts is a

Commerce
WAEC 2013

A person who earns extra commission for guaranteeing debts is a

  • A. factor
  • B. broker
  • C. commission agent
  • D. del-credere agent
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Correct Answer: Option D
Explanation

A del credere is an agent who guarantees the solvency of third parties with whom the agent contracts on behalf of the principal.

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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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