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JAMB Commerce 2010 Question 42

Question 42

Law of Agency

An agency contract must involve

  1. A.a principal and a consumer
  2. B.a principal and a producer
  3. C.a principal and a third party
  4. D.a principal and an agent.
Show the answer and explanation

Answer: D (a principal and an agent.)

Explanation

Agency is the relationship in which an agent acts for a principal.