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WAEC Commerce 2019 Question 38

Question 38

Law of Agency

An agent whose authority, as conferred by the principal, has no limit is a

  1. A.del credere agent.
  2. B.general agent.
  3. C.special agent.
  4. D.universal agent.
Show the answer and explanation

Answer: D (universal agent.)

Explanation

A universal agent has unlimited authority to act for the principal in all matters; a del credere agent guarantees payment by buyers.