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- 1 Marks
Question
An agency relationship involves the
A. Agent alone
B. Principal alone
C. Third party alone
D. Agent, principal, and the third party
E. Third party and the principal
Answer
Answer: D
Explanation:
The correct answer is “D. Agent, principal, and the third party.” An agency relationship is typically a triangular relationship involving an agent, a principal who grants authority, and a third party with whom the agent interacts on behalf of the principal.
- Tags: Agency Law, Agent, Principal
- Level: Level 1
- Topic: Agency Law
- Series: MAY 2015
- Uploader: Kwame Aikins