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WAEC Commerce 1997 Question 96

Question 96

Law of Agency

An agent with authority to bind his principal in everything, provided he acts lawfully, is called

  1. A.a del credere agent
  2. B.a special agent
  3. C.a universal agent
  4. D.a factor
  5. E.an auctioneer
Show the answer and explanation

Answer: C (a universal agent)

Explanation

A universal agent has unlimited authority to act for the principal.