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The major parties to an agency relationship are the?

Commerce
JAMB 2011
The major parties to an agency relationship are the?
  • A. principal and the creditor
  • B. bailee and the bailor
  • C. principal and the agent
  • D. shareholder and the creditor
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Correct Answer: Option C
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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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 App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts