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JAMB Commerce 2011 Question 41

Question 41

Law of Agency

The major parties to an agency relationship are the

  1. A.principal and the creditor
  2. B.bailee and the bailor
  3. C.principal and the agent
  4. D.shareholder and the creditor.
Show the answer and explanation

Answer: C (principal and the agent)

Explanation

Agency is the relationship between a principal and the agent who acts for him.